07/31/2009 Market Recap: No Title


Summary:

The common believes are that the bigger picture is up.

Expect a short-term pullback.

  Trend Momentum Comments - Sample for using the trend table.
Long-term Down   Idea for trading intermediate-term under primary down trend.
Intermediate Up Overbought  
Short-term Up Neutral  

Nothing new to say. The chart below is what I understand that most believes, just the price target and the time target are my best guess.

SPXEWCountWeekly

I have no idea whether the common believes are true or not. Just the “vacuum” between NYADV and NYUPV in chart 0.0.3 SPX Intermediate-term Trading Signals still gets me worried, though it’s not a reason to short, but personally I won’t long if I don’t see a little bit bigger pullback.

SPXMidTerm

Short-term,After Bell Quick Summary has mentioned a possible red Monday. In addition, here are 2 reliable signals.

T2103 Zweig Breadth Thrust from Telechart, overbought.

T2103

T2122 4 Week New High/Low Ratio, overbought.

T2122

Besides, 1.0.2 S&P 500 SPDRs (SPY 60 min) and 1.1.0 Nasdaq Composite (Daily) have too many gaps, so I still believe at least one gap should be filled within a short period of time. The Tech Bullish Percent Index as shown below again hit almost new high now, so at least Nasdaq has a better chances to fill at least one of its gaps.

COMPQDaily

BPINFO

15 Comments on "07/31/2009 Market Recap: No Title"
  1. Comment left on:
    August 2, 2009 at 9:01 am
    Me XMan says:
  2. Comment left on:
    August 2, 2009 at 10:03 am
    Anonymous says:
  3. Comment left on:
    August 2, 2009 at 10:34 am
    Anonymous says:
  4. Comment left on:
    August 2, 2009 at 12:54 pm
    fortune8 says:
  5. Comment left on:
    August 2, 2009 at 5:21 pm
    Dr. Doom says:
  6. Comment left on:
    August 2, 2009 at 5:34 pm
    Tushar says:
  7. Comment left on:
    August 2, 2009 at 8:06 pm
    Anonymous says:
  8. Comment left on:
    August 2, 2009 at 9:19 pm
    Me XMan says:
  9. Comment left on:
    August 3, 2009 at 1:20 am
    Anonymous says:
  10. Comment left on:
    August 3, 2009 at 7:46 am
    Me XMan says:
  11. Comment left on:
    August 3, 2009 at 3:51 pm
    Jim says:
  12. Comment left on:
    August 3, 2009 at 3:54 pm
    Cobra says:
  13. Comment left on:
    August 3, 2009 at 4:40 pm
    Dan Black says:
  14. Comment left on:
    August 3, 2009 at 4:59 pm
    Anonymous says:
  15. Comment left on:
    August 3, 2009 at 5:06 pm
    Me XMan says:
Comments have been disabled here. This discussion has ended.
© 2013 Cobra's Market View — All Rights Reserved.