Cobra's Market View Private Messaging System shows:
THE SHORT-TERM TREND IS DOWN, I HOLD BOTH SHORT (TRAPPED) AND LONG (TRAPPED) OVERNIGHT
No idea about tomorrow, if not up big then I’d be bearish biased though.
As mentioned in 05/06 Market Outlook, the Non-Stop model sell signal may have been triggered today. You may want to wait for a few days to avoid the whipsaw though and short is for aggressive traders only. I’ve mentioned several times before that a typical trend following system like Non-Stop model usually has below 50% winning rate. It relies heavily on a long lasting trend to earn the money in the long run. So the sell signal doesn’t necessarily confirm that the intermediate-term trend is down.
MECHANICAL TRADING SIGNALS:
|Long-term||2 of 2 BUY|
|Intermediate||3 of 5 *SELL||5 of 5 NEUTRAL||Cobra Impulse in BUY mode; Non-Stop in *SELL? mode.|
|Short-term||6 of 6 NEUTRAL|
|SPY SYSTEM||ENTRY||STOP LOSS||INSTRUCTION: back test is HERE, signals are HERE.|
|Non-Stop||N/A||*Close long and sell short tomorrow.|
|CI Buy & Hold||04/28 L||N/A|
|CI Swing||05/06 L||1.7*ATR(10)|
DEMO ACCOUNT FOR SHORT-TERM MODEL: