11/27/2009 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

If you happened to read the 11/25 Quick Summary comment area you probably knew that today simply repeated the rule that has been playing for so many many times: Whenever US is in holiday/weekend the world tanks on some bad news but the next day when US opens, it won’t tank at all, sometimes it even rises. Plus it’s only a half trading day so I don’t know if the reversal bars I saw everywhere on the daily chart do mean a green Monday or not. The bottom line, a Rectangle formation seems in the forming which has 68% chances of breakout on the upside, but before the price breakout on either side, it’s still a range bounded market so don’t get too bullish or too bearish.


Also there’s one trick pointing to a green Monday: 23 out of 34 times (68%) a green day after a Major Distribution Day (NYDNV:NYUPV > 9).


Enjoy your weekend!

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