Cobra's Market View Private Messaging System shows:
THE BOTTOM LINE, THE SHORT-TERM TREND IS DOWN, NOT CONFIRMED THOUGH, SO I STILL HOLD LONG POSITION OVERNIGHT.
No idea about the short-term direction now, my guess is we’ll see a rebound at least tomorrow morning, after that we’ll have to see then. The bad news is the final CPCE reading is well above 0.65 (will confirm this in the night’s report) which should be high enough to breakout its trend line therefore making a potential top signal.
Cobra Impulse System should be officially out of its long position today. Since it uses the mid price so the trade is actually a losing trade although in reality it’s a flat trade. Well, as you can see from this particular example, sometimes an actual losing trade is a win and sometimes an actual winning trade is a loss, so even I cannot test on the exactly entry and exit price (as I said in the yesterday’s trading signals, due to the limitation of the back test software), using mid price is fair in the long run.
MECHANICAL TRADING SIGNALS:
|Long-term||2 of 2 BUY|
|Intermediate||4 of 5 BUY||5 of 5 NEUTRAL||Cobra Impulse in BUY mode; Non-Stop in BUY mode.|
|Short-term||6 of 6 NEUTRAL|
|SPY SYSTEM||ENTRY||STOP LOSS||INSTRUCTION: back test is HERE, signals are HERE.|
|CI Buy & Hold||04/28 L||N/A|
|CI Swing||*Stopped out on 05/03 flat.|
DEMO ACCOUNT FOR SHORT-TERM MODEL: