Cobra's Market View Private Messaging System shows:
*Please make sure you understand how to use the table above. The main purpose of this report is to provide information so contradictory signals are always presented.
SEASONALITY: MOSTLY THE MONTH’S LAST TRADING WEEK WAS RED SINCE AUG 2009
See 04/23 Market Recap for more details.
CYCLE ANALYSIS: THE NEXT IMPORTANT DATE IS 05/06
The next potential turn date is 05/06 (+-) which could either be a top or a bottom depending on how the market marches to that date. See 04/16 Market Recap for more details.
INTERMEDIATE-TERM: EXPECT ROLLER COASTER AHEAD
See 04/26 Market Recap for more details.
SHORT-TERM: NASDAQ TRADERS GOT VERY EXCITED AGAIN
Tomorrow should be another key day for bulls, because from the chart 1.0.0 S&P 500 SPDRs (SPY 60 min), there’s a possibility that today was just a typical back test of the broken trend line, so if the market drops tomorrow then it’d make things a little bit complicated for bulls.
I have no idea whether tomorrow will be up or down, just one thing I’d like to remind you: The Nasdaq traders got very excited today, maybe too excited, because there’s almost no minus TICK the whole day today (means nobody is selling only buyers left in the market) and therefore the Intraday Cumulative TICK (Courtesy of sentimentrader) skyrocketed again. A big WOW again, the last 2 times I WOW-ed was in 04/14 Market Recap and 04/20 Market Recap.