Cobra's Market View Private Messaging System shows:
I have one trick today, when CPC < 0.81, 29 out of 38 times (76%) a green close the next day.
The bottom line, well, it’s too late to say anything now as the futures are down dramatically due to a sudden Fed discount rate hike. This, by the way, reminds me of year 2007, the Fed suddenly cut the discount rate by 0.5 on the OE day morning to maximize its killing effects on bears. Now the same Fed chose to raise the rate a day before the OE day to minimize any side effects on bulls. Apparently the Fed is on the bull side. But why Fed cannot wait for a better day to do this is really interesting. Perhaps because of very bad CPI readings tomorrow? Well, I don’t know, I just remember that once John Murphy said in his report (at that time the gasoline rose 5.6% but the Labor Department turned it into a –0.2% drop by "seasonally adjusting" the numbers, so as the result the core CPI shows no inflation):
The next time you fill up your tank, tell the guy you want the "seasonally adjusted" price of gasoline!