12/09/2009 Market Recap: Record low bears among newsletter writers


Cobra's Market View Private Messaging System shows:


Summary:

Market is till range bounded.

  TREND MOMENTUM EMOTION COMMENT - Sample for using the trend table.
Long-term Up   Disbelieve  
Intermediate Down Neutral  
Short-term Down Neutral    
SPY SETUP ENTRY DATE INSTRUCTION STOP LOSS Mechanic trading signals for reference only.
Back tested since 2002.
ST Model

*Long if up day tomorrow.

 

*No confidence in this trade.

Reversal Bar

*Long if up day tomorrow.

*No confidence in this trade.

NYMO Sell 12/04 S   Breakeven

 

VIX ENV        
         

INTERMEDIATE-TERM: MIXED SIGNALS

In wait and see mode. For details please see 12/04/2009 Market Recap.

The latest Investor's Intelligence Sentiment Survey shows the number of bearish newsletter writers are now at the 2nd record low.

IIBears 

SHORT-TERM: MIXED SIGNALS

Take a look at the today’s After Bell Quick Summary, I modified a little bit if you read it earlier: ISEE Indices & ETFs Only Index > 100 actually means 73% chances there’ll be a close that is lower than today's close within 2 days.

As for tomorrow, all I can find are one bull friendly chart, 3.1.2 PowerShares DB US Dollar Index Bullish Fund (UUP 30 min), could be a bearish 1-2-3 formation therefore dollar may pullback further which is good for the stock market.

UUP30min 

Seasonality from www.sentimentrader.com, take a look if interested.

 Seasonality

INTERESTING CHARTS: NONE

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