Cobra's Market View Private Messaging System shows:
Just a wild guess: Could be 2 days consolidation then 10 days down cycle.
|TREND||MOMENTUM||EMOTION||COMMENT - Sample for using the trend table.|
|SPY SETUP||ENTRY DATE||INSTRUCTION||STOP LOSS||Mechanic trading signals for reference only.
Back tested since 2002.
|ST Model||11/11 S||*Short intraday.||2 x ATR(10)||
SPY 2 x ATR(10) is 4% above the entry price. For 2x ETF, use 8% and 3x, 12%.
|Reversal Bar||*Triggered on 11/11, but will follow ST Model only as it's risky to enter 2 identical positions at the same time.|
INTERMEDIATE-TERM: COULD BE 2 DAYS CONSOLIDATION THEN 10 DAYS DOWN CYCLE
0.0.3 SPX Intermediate-term Trading Signals, according to what had happened after the blue arrows, and considering that there’re still 2 days left for the current 10 days up cycle, my guess is the market will consolidate for the rest of the week. And according to the statistics about SPY up 7 days in a row, the next 10 days cycle starting from the next week could be a down cycle (well, that doesn’t mean down 10 days in a row).
1.1.3 QQQQ Short-term Trading Signals, black bar bears 2 prophecies: Gap down open tomorrow (may not close in red though) and not far away from a short-term top. The prophecy about “not far away from a short-term top” also fits the above deduction about the next 10 days down cycle well.
1.0.8 SPX Cycle Watch (Weekly), from cycle point of view, the next week is a cycle turn week, again fits well for the above deduction about the next 10 days down cycle. By the way, there’re lots of targets (also act as resistances) above and not far away, so the upside room may be limited.
SHORT-TERM: NO UPDATE
6.4.9 All Up Day Watch, yes, it’s confirmed (see today’s After Bell Quick Summary), today is an ALL UP DAY. The reason an ALL UP DAY is important is because it may reflect the confusion of the current inter-market relationships therefore could imply that the market is in a transition period.