Cobra's Market View Private Messaging System shows:
One trick today, when CPC <= 0.81 (yes, I’ve changed the rule, it’s not 0.8 anymore.), 26 out of 32 times since Sep 2009 (81%) a green day the next day.
But chart pattern wise, I see this as a Bear Flag, so there’s a chance we’ll see today’s low being tested tomorrow morning (at least), the market may eventually close in green as statistics shown above though.
So not bad at all for bulls, right? Well, here’s something more tricky: I DIDN’T SEE ANY –1,000 TICK today. This is rare for almost a 1% down day like today. The last time this happened was on 01/09/2009 and 05/11/2009. My conclusion at that time was no panic so there’s more on the downside, and indeed, there’s more. I don’t know if the same conclusion applies now since the sentiment is so bullish. But the chart below may worth your attention: You don’t believe never will you see a –1,000 TICK ever, do you? So the bottom line, I believe there’s another shoe to drop sooner or later, no matter a green day tomorrow or not.