08/30/2010 Market Recap: Green Day Needed Tomorrow


Cobra's Market View Private Messaging System shows:


  TREND MOMENTUM COMMENT
Long-term 2 of 2 are SELL  
Intermediate 3 of 3 are SELL 5 of 5 are NEUTRAL SPY ST Model in SELL mode; Non-Stop in SELL mode.
Short-term Model is SELL 5 of 5 are NEUTRAL Trend is down, I hold no position overnight.
GANN DAY MOON/SOLAR CYCLE CONCLUSION
9/10 09/08 / 09/08 9/5, 9/6 Next pivot date: 09/07 – 09/10
BULLISH
BEARISH 0.2.3 NYSE McClellan Oscillator: the 3rd Hindenburg Omen triggered.
T2105 too high.
*0.2.5 NYSE Total Volume: Too low.
SPY SETUP ENTRY DATE STOP LOSS INSTRUCTION: Mechanic signals, back test is HERE, signals are HERE.
TRADING PLATFORM:
SSO/SDS, UPRO/SPXU
Non-Stop 08/16 S N/A For general direction guide only.
ST Model

*Please make sure you understand how to use the table above. The purpose of this report is to provide info so contradictory signals are always presented.

SEASONALITY: BEARISH EARLY NEXT WEEK, BULLISH LATER

See 08/27 Market Recap for more details.

INTERMEDIATE-TERM: STATISTICS ARE BEARISH, THE NEXT PIVOT DATE IS AROUND 09/07 TO 09/10

See 08/27 Market Recap for more details.

    SHORT-TERM: A GREEN DAY TOMORROW IS NEEDED TO AVOID FURTHER BAD SIGN

    Nothing to say today except a green day tomorrow is necessary to avoid a further bad sign. See chart below.

    MAD 

    0.2.5 NYSE Total Volume, not good, still look like a top instead of a bottom. By the way, price down on volume down is not at all a bullish sign, in a downtrend, it means bearish continuation. What bulls really need to see is price down on volume surge which may imply a process of capitulation.

    NYTV 

    HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST

    TREND DTMFS COMMENT – *New update. Click BLUE to see chart if link is not provided.
    QQQQ DOWN
    IWM DOWN
    CHINA UP Head and Shoulders Bottom in the forming?
    EMERGING DOWN 4.1.6 iShares MSCI Emerging Markets (EEM Weekly): EEM to SPX ratio too high.
    EUROPEAN DOWN
    CANADA UP *BUY
    BOND UP *SELL 4.2.0 20 Year Treasury Bond Fund iShares (TLT Weekly): Too far away from MA(200).
    EURO DOWN
    GOLD UP *SELL
    GDX UP BUY 4.3.1 Market Vectors Gold Miners (GDX Weekly): GDX to SPX ratio too high.
    3.2.1 Market Vectors Gold Miners (GDX Daily): ChiOsc is too high.
    OIL DOWN
    ENERGY DOWN
    FINANCIALS DOWN 4.4.2 Financials Select Sector SPDR (XLF Weekly): Head and Shoulders Top in the forming?
    REITS DOWN 4.4.3 Real Estate iShares (IYR Weekly): Home builder is lagging, be careful.
    MATERIALS DOWN

    *DTFMS = Dual Time Frame Momentum Strategy. The signal is given when both weekly and daily STO have the same buy/sell signals. Use it as a filter, don’t trade directly.

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