03/05/2010 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

OK, bullish Monday? I cannot find any excuses to say no. Just since this week was up on every single day so according to the past pattern (see blue rectangles), the next week should mostly consolidate.


And as for the famous very bullish Monday, since the TICK was closed above 1,000, so, yes, we could still get a bullish Monday but I don’t expect it to up a lot (only 3 green lines so far representing SPY was up more than 1%).


The bottom line, see Still Think Around March 6 is Important and 1.0.7 SPX Cycle Watch (Daily), my last cycle due date was on 03/08, I think it clearly points to a top, just right now I’m not sure if it’s a top of any significances any more – it could be just a short-term top since the market is really overbought now.

Enjoy your weekend!

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