Cobra's Market View Private Messaging System shows:
OK, looks like the first prophecy in last night market recap came true: the market did turn on the SPX cycle due time. Now let’s see whether the second prophecy about the market rising to tomorrow or the next Monday will come true.
One trick today, when CPC <= 0.81, 28 out of 36 times (78%) recently a green close the next day.
The bottom line, the intermediate-term remains down. And the bad news is that I have yet another reliable signal even arguing today as a top. I’ll talk about this in tonight’s report.