09/08/2009 Market Recap: The last resistance area

Cobra's Market View Private Messaging System shows:


One last resistance area to overcome.

  Trend Momentum Comments - Sample for using the trend table.
Long-term Up    
Intermediate Down Neutral  
Short-term Up Neutral  
My Emotion Wait   Could repeat what happened after 8/17, so be careful bears.

1.0.3 S&P 500 SPDRs (SPY 30 min), not much to say, SPY' has been consolidating under the last resistance area for the whole day, no idea whether it could overcome it or not tomorrow.


0.0.3 SPX Intermediate-term Trading Signals, bigger picture, volume did pick up today, not bad, as today’s Russell 3000 Dominant Price-Volume Relationships showed 1307 stocks “price up volume up”. Just the correction seemed not enough so any new high later could introduce even bigger negative divergences therefore on a little bit longer term, still possible there’ll be a little bigger correction.


6.4.4 SPY Price Volume Negative Divergence Watch, a short-term trading setup for your info – sell at close today, most likely a winning trade within 3 days.


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