Cobra's Market View Private Messaging System shows:
OK, everything went as planned, tested the low, rebounded huge, even with INDU new high. And tomorrow my trick says, 27 out of 33 times (82%) a green close.
I’m not very sure this time though because, firstly, CPC = 0.81 is a critical value, only had one case in the past(If it failed tomorrow, I’ll adjust back to the original 0.80). And secondly, the candlestick pattern doesn’t look good on SPY intraday chart, so perhaps there’d be some weakness in the morning at least.
Magic red Thursday again? Well, I don’t know. The bottom line, with SPY 15 unfilled gaps, I don’t think the 16th gap if any tomorrow would hold and I still think it’s better to reduce long positions if the market rallies further.