Cobra's Market View Private Messaging System shows:
SHORT-TERM: THE TREND IS STILL UP
As mentioned in today’s intraday comment, there’s still not even a lower low on the intraday chart so by definition the trend is still up (bullish biased). However, at the current stage both bulls and bears should be careful as the trend is not crystal clear. See my short-term model for example, on one hand I hold the short position while on the other hand I keep buying the dips and this will go on until either direction is proven wrong. LOL.
The chart below from another angle also argues for a bullish bias. Well, maybe everything will change tomorrow, let’s see.
INTERMEDIATE-TERM: COULD NOT BE VERY BRIGHT
See 03/04 Market Recap for more details.
SEASONALITY: NO UPDATE
For March seasonality chart please refer to 03/01 Market Recap.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
|XIU.TO Weekly||UP||Too far above MA(200).|
|TLT||Could be a channel breakout, trend may about to change.|
|FXE Weekly||UP||Testing Fib confluences area.|
|USO||ChiOsc is way too high.|
|WTIC Weekly||UP||Too far above BB top.|
|XLE Weekly||UP||Too far above MA(200).|
|XLF Weekly||?||Small lower low wait for follow through to confirm the trend change.|
- 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 daily chart.
- DOWN = Intermediate-term downtrend. Set when I see at least one lower high and lower low on daily chart.