Cobra's Market View Private Messaging System shows:
SHORT-TERM: MORE LIKELY A GREEN DAY TOMORROW
- Although the bullishness in my forum really scares me but I must admit that both statistics and chart pattern are arguing for a green day tomorrow.
- About Non Farm Payroll day tomorrow, it’s generally bullish and the intraday pattern usually is “opens high goes lower or opens low goes higher” which I’ve been blah blah every month for awhile, so please click this link to see the statistics yourself.
- Trading wise, the name of the game still is to buy dip.
Why green day tomorrow?
The seasonality about tomorrow below is from Bespoke.
Non Farm Payroll day itself is generally bullish.
INTERMEDIATE-TERM: BULLISH IN 3 TO 6 MONTHS
SEASONALITY: BEARISH 03/31, BULLISH 04/01
According to Stock Trader’s Almanac:
- Last trading day of March, Dow down 11 of last 16, Russell 2000 up 12 of last 16.
- Frist trading day in April, Dow up 13 of last 16.
See Friday’s After Bell Quick Summary for seasonality chart for the last 2 and the 1st trading days of the month.
For March seasonality chart please refer to 03/01 Market Recap.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
|QQQQ&Weekly||DOWN||NAADV MA(10) is way too high.|
|IWM & Weekly||UP|
|SSEC & Weekly||UP|
|EEM & Weekly||UP|
|XIU & Weekly||UP||TOADV MA(10) is way too high.|
|TLT & Weekly||UP|
|FXE & Weekly||UP|
|GLD & Weekly||UP||*Ascending Triangle, so may go higher from here.|
|GDX & Weekly||03/30 S|
|USO & Weekly||UP||*Ascending Triangle, so may go higher from here.|
|XLE & Weekly||UP|
|XLF & Weekly||DOWN|
|IYR & Weekly||UP|
|XLB & Weekly||UP|
|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.