Cobra's Market View Private Messaging System shows:
THE SHORT-TERM TREND IS DOWN, I HOLD BOTH SHORT AND LONG (TRAPPED) OVER THE WEEKEND.
A little little bearish biased toward the next Monday mainly because the SPY intraday chart pattern looks incomplete therefore I suspect there’s at least one more push down to test the 05/05 lows before any meaningful rebound is possible.
Seasonality is mixed for the next Monday. On one hand, according to Stock Trader’s Almanac, Monday after Mother's day, Dow up 12 of last 15. But on the other hand, all the recent Monday were in red.
Cobra Impulse System opened another long position today in which I’m not very confident (usually the trade I’m most afraid wins though!). The system got very tough start so far but I’m confident that in the long run it’ll prove its merit.
Enjoy your weekend!
MECHANICAL TRADING SIGNALS:
|Long-term||2 of 2 BUY|
|Intermediate||3 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||*05/06 L||*1.7*ATR(10)|
DEMO ACCOUNT FOR SHORT-TERM MODEL: