Cobra's Market View Private Messaging System shows:
SHORT-TERM: COULD BE A BULL FLAG IN THE FORMING TARGET AT $130.21
Nothing to say today, could be a Bull Flag in the forming so according to the Measured Move, the rebound target could go as high as $130.21. I’m not sure though because I have no other evidences supporting this. Trading wise, the game is still to sell the bounce.
Some may mention 6.2.0a VIX Trading Signals (ENV Buy) and 6.2.2b VIX Trading Signal (BB Buy), well, possibly, but to me, because the SPY ST Model is now in sell mode, so the buy setup is no longer valid based on the past statistics. Well, anyway, YMYD.
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|
|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.