Cobra's Market View Private Messaging System shows:
SHORT-TERM: COULD BE A RECTANGLE IN THE FORMING, UPWARD BREAKOUT 68% OF THE TIME
Nothing to say today. However, because now both After Bell Quick Summary and Market Recap have its own table needs to be updated, so I have to post twice anyway. Chart pattern looks like a Rectangle in the forming so statistically bulls may have a little bit edge (68%).
Below is the latest Institutional Buying and Selling Trending chart from StockTiming. Just some info since I’m completely out of bullets to blah blah, no further comments.
INTERMEDIATE-TERM: COULD BE WAVE 5 UP TO SPX 1300+, PIVOT TOP COULD BE AROUND 01/05 TO 01/12
See 01/07 Market Recap for more details.
SEASONALITY: NO UPDATE
See 12/31 Market Recap for the January seasonality chart.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
|CHINA Weekly||UP||Should have set the trend to down from up but I’ll see how the market rebounds.|
|XIU.TO Weekly||UP||Weekly Bearish Engulfing, be careful.|
|TLT||Breakout, so TLT could be bottomed. Need watch the trend line resistance though.|
|FXE||Clear breakdown, the downtrend resumes.|
|GLD||Could be an Ascending Triangle in the forming.|
|GDX||12/17 S||1-2-3 trend change confirmed, so GDX could be topped. Be careful about gold itself.|
|XLF Weekly||UP||Testing resistance which also is multiple Fib confluences area.|
|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.
- 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.