10/08/2009 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

The bottom line, the 9/29 high was not taken out convincingly so there’s still a hope for bears for at least a short-term top. I’ll talk this in tonight’s report.

Two tricks today, both point to a red close tomorrow.

CPCE <= 0.56, 19 out of 30 (63%) times recently a red close the next day. It didn’t work well for the past 3 days, but I don’t think CPCE could remain in this low for too long.


ISEE Indices & ETFs Only Index > 100, 20 of 32 (63%) times recently a red close the next day (see red arrows). If counting the next next day (see blue arrows) then the chances are increased to 27 of 32 (84%) times.


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