05/25/2010 Market Recap: Will the 3rd time be the charm?


Cobra's Market View Private Messaging System shows:


  TREND INDICATOR MOMENTUM INDICATOR COMMENT (Click link to see chart)
Long-term 3 of 3 are BUY    
Intermediate 3 of 3 are SELL 4 of 5 are NEUTRAL Non-Stop Model is in SELL mode
Short-term 1 of 1 are SELL 4 of 6 are NEUTRAL SPY ST Model is in SELL mode
BULLISH 0.2.1 10Y T-Bill Yield: Bottomed?
0.1.1 SPX Intermediate-term Trading Signals: CPC MA(10) too high.
0.2.3 NYSE McClellan Oscillator: Oversold.
0.2.2 Extreme Put Call Ratio Watch: CPC MA(5) too high.
8.1.1 Normalized NATV/NYTV: Bottomed? 
6.3.2c Major Distribution Day Watch: Bottomed?
05/20 Market Recap: Intermediate-term Indicator Score from sentimentrader is too low.
*0.1.3 Nasdaq 100 Index Intermediate-term Trading Signals: NYDNV too high.
BEARISH 0.1.1 SPX Intermediate-term Trading Signals: Ascending Broadening Wedge? Target: 1008 to 1019.
6.4.1 Extreme NYADV Readings Watch: Lower close ahead.
0.2.3 NYSE McClellan Oscillator: Lower low ahead.
CONCLUSION  
SPY SETUP ENTRY DATE STOP LOSS INSTRUCTION: Mechanic signals, back test is HERE, signals are HERE.
TRADING VEHICLE:
SSO/SDS, UPRO/SPXU, RSP
ST Model
Reversal Bar    
NYMO Sell    
Non-Stop 05/11 S N/A For general direction guide only.
Others      
OTHER ETFs TREND *DTFMS COMMENT – *New update. Click BLUE to see chart if link is not provided.
QQQQ DOWN    
IWM DOWN    
CHINA DOWN BUY 2 green bar in a row usually means more on the upside.
EMERGING DOWN   Bearish 1-2-3 formation breakdown, target: $32.13
EUROPEAN DOWN   4.1.7 Vanguard European VIPERs (VGK Weekly): Bearish 1-2-3 formation, target $35.54.
CANADA DOWN   *TOADV MA(10) oversold.
BOND UP   *ChiOsc is way too low.
EURO DOWN *SELL *ChiOsc is way too high.
YEN UP  
GOLD UP   4.3.0 Gold Trust Shares (GLD Weekly): Head and Shoulders Bottom, target $129.99.
GDX UP  
OIL DOWN  
ENERGY DOWN   Bearish 1-2-3 formation, target: $46.47
FINANCIALS DOWN   Bearish 1-2-3 formation, target: $12.99
REITS DOWN   Head and Shoulders Top? Target: $44.28
MATERIALS DOWN    

*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.
*DTFMS = Dual Time Frame Momentum Strategy. The signal is given when both weekly and daily STO have the same buy/sell signals.

SEASONALITY: THE LAST TRADING WEEK OF MONTH WAS BEARISH SINCE AUG 2009
 

See 05/21 Market Recap for more details.

INTERMEDIATE-TERM: PULLBACK TARGET AROUND 1008 TO 1019, NEXT TIME WINDOW AROUND 06/06

See 05/21 Market Recap for more details.

WARNING: If you don’t understand the true meaning of overbought/oversold, please skip the session below. Generally, you should try your best not to trade against the trend. Trading purely based on overbought/oversold while against the trend is lethal to the health of your account. Before going further, please make sure you understand how to use the table above.
SHORT-TERM: COULD SEE SOME WEAKNESS TOMORROW MORNING

0.1.0 SPY Short-term Trading Signals, today is the SPY’s 3rd bullish reversal day, the previous 2 were failed, so will the 3rd time be the charm? I’m not sure, but at least the chances should be better than the previous 2 times. I’ll temporarily define this as a short-term rebound if we could see a follow through tomorrow. However since both SPY ST Model and Non-Stop Model are still in SELL mode so the strategy is still to sell the bounce.

 SPYShortTerm

1.0.0 S&P 500 SPDRs (SPY 60 min), ChiOsc is way too high. This is the catch for bulls tomorrow, most likely it means some weakness in the morning.

SPY60min

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