Cobra's Market View Private Messaging System shows:
Summary:
Simple list of some short-term "bear friendly" signals.
| Trend | Momentum | Comments - Sample for using the trend table. | |
| Long-term | Down | ||
| Intermediate | Up | Overbought | |
| Short-term | Up | Neutral |
Nothing new today, the same signals I mentioned yesterday which were my favorites in the PAST.
T2112 % of stocks trading 2 std dev above MA40 from Telechart, still overbought. Here’s a longer history chart, take a look to feel a little bit about how much higher is this new record high.
0.0.2 SPY Short-term Trading Signals, as mentioned yesterday, pay attention to volume which was decreased again. For up 4 days in a row while volume down 4 days in a row, the price-volume relationship is definitely bearish.
1.0.2 S&P 500 SPDRs (SPY 60 min), gaps, negative divergences, Bearish Rising Wedge, you name it. I see this chart as very bearish.
T2103 Zweig Breadth Thrust from Telechart, overbought.
T2122 4 Week New High/Low Ratio from Telechart, overbought, sill has some upside room left though.
The Aug seasonality from www.sentimentrader.com, I don’t see anything special for the first 9 trading days.
