11/17/2009 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

Typical consolidation day today and I don’t see any potential top pattern yet so I assume that we’ll see a new high tomorrow morning. But better not too bullish here because I see 2 warning signs:

Looks like a possible Head and Shoulder Top is in the forming on EURUSD chart, so beware of breakdown.

$EURUSD  11_17_2009 (60 Min)

Could be an ALL UP DAY today, since $GOLD may not be updated until 7:40pm ET and I cannot wait that long before posting my daily after bell quick summary, so according to GLD, I assume  that chances are high that $GOLD is up today. I’ll confirm this in tonight’s report. Just hope you still remember what happened on 11/12 when we had an ALL UP DAY on 11/11. I believe that an ALL UP DAY means a transition period and it certainly is not a good sign that we have 2 such kind of days just a few days apart.


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