11/20/2009 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

Looks like the market is set to rebound the next Monday because I see reversal bars everywhere (will talk about this in the weekend report) and there’s also a trick pointing to a green Monday: When both SPX and VIX closed in red, 17 out of 27 times (63%) a green day the next day.


Also seasonality favors bulls too as the days before Thanksgiving were generally bullish. See here: Trading The Thanksgiving Holiday.

The bear’s hope is that the market is trying to form the right shoulder of a Head and Shoulders Top and I guess that bears will get another spike of Buying Climax readings (will talk about this in the weekend report) too.


The bottom line, at the current stage, I have no idea about the market’s direction, perhaps the next Monday will provide me with some clues. Right now the most important thing is to ENJOY YOUR WEEKEND!

© 2013 Cobra's Market View — All Rights Reserved.