Cobra's Market View Private Messaging System shows:
SHORT-TERM: EXPECT A REBOUND AS EARLY AS TOMORROW
I’m very very (insert as many very as you want here) disappointed in bears, no matter how bad the news is, so far bears cannot even make an impulse wave down that has NO PRICE OVERLAPPING，so how far can this pullback go, I really really (insert as many really as you want here) doubt. Trading wise, however, no matter how disappointed I am, if bulls couldn’t show strength either then the strategy still is to sell the bounce, after all, officially, now both intermediate-term and short-term are in downtrend.
The chart below marked all the bullish reversal days since March 2009, today perhaps is the only lower low made after a bullish reversal day (so bears finally made a DENT!), but unfortunately, the dent is not enough to cancel the Friday’s bullish reversal, so chances are very high that the market may rally hard like what exactly happened in the past.
The chart below marked all the hollow red bars at swing low since March 2009, again, the market rallied hard thereafter.
As for tomorrow FOMC, the chart below also appears bullish mostly. Frankly, I really really (insert as many really as you want here) find it’s hard to imagine that if anything, anything at all on Earth, could bring down this market!
INTERMEDIATE-TERM: COULD NOT BE VERY BRIGHT BUT STATISTICALLY BULLISH IN 3 TO 6 MONTHS
See 03/11 Market Recap for more details.
SEASONALITY: BULLISH MONDAY
According to Stock Trader’s Almanac:
- Monday before March Triple Witching, Dow up 17 of last 23.
- March Triple Witching Day mixed last 10 years, Dow down 3 of last 4.
For March seasonality chart please refer to 03/01 Market Recap.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
|IWM & Weekly||UP|
|SSEC & Weekly||UP|
|EEM & Weekly||DOWN|
|XIU & Weekly||UP||1.5.1 TSE McClellan Oscillator: Oversold.|
|TLT & Weekly||UP|
|FXE & Weekly||UP||(weekly) Testing Fib confluences area.|
|GLD & Weekly||UP|
|GDX & Weekly||UP|
|USO & Weekly||UP|
|XLE & Weekly||UP|
|XLF & Weekly||UP|
|IYR & Weekly||UP|
|XLB & Weekly||DOWN|
|DBA & Weekly||DOWN|
- 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.
- * = New update; Blue Text = Link to a chart in my public chart list.
- UP = Intermediate-term uptrend. Set when weekly buy signal is triggered.
- DOWN = Intermediate-term downtrend. Set when weekly sell signal is triggered.