04/26/2011 Market Outlook (More New Highs Ahead)


Cobra's Market View Private Messaging System shows:


SHORT-TERM: COULD SEE MORE NEW HIGHS AHEAD

All I wanted to say today are already in 04/26 Trading Signals, chances are higher that we’ll see a green tomorrow. Also, since there’s no RSI negative divergence yet on 1.0.0 S&P 500 SPDRs (SPY 60 min), so we could see more new highs ahead.

SPY60min

If up huge again tomorrow, bulls may need take some profits because the T2122, my ultimate weapon for monitoring overbought/oversold conditions are close to an extreme level. I’ve mentioned in 04/06 Market Recap that nowadays it’s more and more difficult for T2122 to reach the same extreme level like before so a little higher than that of 4/06 high should be enough to raise a red flag.

T2122

INTERMEDIATE-TERM: SPX TARGET 1352 TO 1381

See 04/21 Market Recap for more details.

SEASONALITY: BEARISH MONDAY, THURSDAY AND FRIDAY, BULLISH WEDNESDAY

See 04/21 Market Recap for more details.

ACTIVE BULLISH OUTLOOKS:

ACTIVE BEARISH OUTLOOKS:

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