Cobra's Market View Private Messaging System shows:
SHORT-TERM: COULD BE A TINY BEAR FLAG IN THE FORMING
Nothing new to say. Today’s pullback probably is not the start of a little bigger pullback I’ve been blah blah because for a strong up momentum like we have now (defined as a straight up without any meaningful pullbacks), a sudden trend change without a several reversal of reversal of reversal is very very rare. However, from the SPY intraday chart, I can see a tiny little Bear Flag in the forming, considering the seasonality is bearish tomorrow (see 12/29 Market Recap), so we may see one small leg down tomorrow.
INTERMEDIATE-TERM: COULD BE WAVE 5 UP TO SPX 1300+, PIVOT TOP COULD BE AROUND 01/05 TO 01/12
See 12/17 Market Recap for more details.
SEASONALITY: LAST WEEK AND THE LAST 2 TRADING DAYS OF THE MONTH WERE GENERALLY BEARISH
See 12/23 Market Recap for more details.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
|CHINA||Clear breakdown below consolidation range, be careful.|
|FXE||The 2nd test of the previous low, so there’s a chance EURO is bottomed around here.|
|IYR Weekly||UP||Home builders are lagging.|
|XLB Weekly||UP||BPMATE is way too overbought.|
- 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.
- Position reported in short-term session of the table above is for short-term model only, I may or may not hold other positions which will not be disclosed.
- Conclusions can be confirmed endlessly, but trading wise, you have to take actions at certain risk level as soon as you feel the confirmation is enough. There’s no way for me to adapt to different risk levels therefore no trading signals will be given in this report except the mechanical signals such as SPY ST Model.
- * = New update; Blue Text = Link to a chart in my public chart list.
- Trading signals in OTHER ETFs table are mechanical signals. See HERE for back test results. 08/31 L, for example, means Long on 08/31.
- UP = Intermediate-term uptrend. Set when I see at least one higher high and higher low on weekly chart.
- DOWN = Intermediate-term downtrend. Set when I see at least one lower high and lower low on weekly chart.