Cobra's Market View Private Messaging System shows:
Still expect at least a short-term pullback. Not sure if it's Monday though.
|Trend||Momentum||Comments - Sample for using the trend table.|
|Long-term||Down||Idea for trading intermediate-term under primary down trend.|
No new contents, almost identical to Thursday report. Still waiting for a pullback, just not sure if it's coming on Monday as from After Bell Quick Summary, 78% chance a green Monday will be. In the quick summary, I mentioned that because CPCE < 0.56, so bears sill have a hope, just the final CPCE readings turn out to be at 0.58, therefore odds seem against bears on Monday.
Anyway, I still expect at least a short-term pullback, therefore personally, I won’t chase high here.
0.0.3 SPX Intermediate-term Trading Signals, pay attention to the vertical dashed red lines, at current position ChiOsc always led to a big pullback in the past. Also the divergence between NYADV and NYUPV still make me suspect that the market is topping (Well, I mean I actually MURMURED that the market is topping).
1.1.4 Nasdaq 100 Index Intermediate-term Trading Signals, except very high ChiOsc and STO, volume kept dropping for 3 days in a row and this kind of price volume negative divergence usually means a pullback.
2.4.2 NYSE - Issues Advancing, every time when red dashed line touched the thick horizontal red line above, a pullback happened.
T2103 - Zweig Breadth Thrust from Telechart, still overbought.
Short-term model from www.sentimentrader.com, very overbought.
1.1.5 PowerShares QQQ Trust (QQQQ 30 min), Bearish Rising Wedge plus lots of negative divergences.
3.1.0 PowerShares DB US Dollar Index Bullish Fund (UUP Daily), could be a Bullish Tri Star, the US$ could rebound, which means that the stock market could pullback.