02/02/2010 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

OK, the rebound goes on but I believe we’ll see some weakness at least tomorrow morning. The reason: Candlestick pattern looks a little hesitating under an important resistance plus ChiOsc on SPY 60 min chart is way too high. Gap up tomorrow morning? Well, it could, but for 4 days in a row the market gapped up, what the chances are, yet another gap up open? Besides that’d be the 14th gap for SPY if left unfilled.

SPY15min SPY60min

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