08/19/2009 Pre-Market Briefing


Cobra's Market View Private Messaging System shows:


Looks like the SPY will open with a gap down. Whether the gap will be filled or not is a tough call because (at least now) the open is on the Monday’s support so this implies that the gap could be filled but at the same time the gap seems too big to fill. One thing is certain though - today will be interesting.

General rule of thumb, if the gap is filled very quickly right after open then a strong up trend day will be. While if the gap is not filled and after 10:30am ET, there’s an intraday low then a strong down trend day will be.

Good luck everyone!

  • Anonymous
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  • Cobra
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  • Cobra
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  • Cobra
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  • shffl
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  • Kelly
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  • Super Coincidence
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  • Super Coincidence
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  • Jim
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  • Cobra
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