Cobra's Market View Private Messaging System shows:
QQQQ black bar could mean a gap down open tomorrow and the market is very close to a short-term top.
|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||11/30 L||
|Reversal Bar||11/30 L||
INTERMEDIATE-TERM: BUILDING A TOP
Maintain the “building a top” forecast. For details please see 11/27/2009 Market Recap.
I believe now everyone knows this: The most recent Investor's Intelligence Sentiment Survey shows that the number of bearish newsletters has dropped to its 3rd record low. The last 2 record low was in year 2003, market went nowhere for awhile thereafter.
SHORT-TERM: GAP DOWN OPEN TOMORROW?
1.1.3 QQQQ Short-term Trading Signals, I think everyone should know this now as I’ve been saying this for so many times: black bar means a gap down open tomorrow and a short-term top is not far away.
No idea about tomorrow. Two speculation charts arguing for a bearish tomorrow. For fun only as I really have nothing to say today.
Whenever Russell 2000 outperformed, especially if it outperformed for 2 days in a row, the market was topped. Also I found that all big pullbacks recently were on Thursday. And tomorrow is Thursday, !#$$#^*%^&*.
When both UUP and GLD closed in green recently, the market was topped too.