Cobra's Market View Private Messaging System shows:
THE SHORT-TERM TREND IS DOWN, NOT CONFIRMED THOUGH, I HOLD NO POSITION OVER THE WEEKEND
Well, indeed a reversal of reversal of reversal, so the direction is not clear again. On the very short-term, it’s mixed seasonality for the next Monday. Stock Trader’s Almanac says it’s bullish (forgot the data but I’m sure it’s bullish) but from the chart below the Monday was mostly in red recently. My guess is we should see some weakness at least in the morning (then perhaps reversal of reversal of reversal of reversal?).
One TradingMarkets long setup was triggered today. It’s claimed to have over 80% winning rate, I just don’t know how they tested though so make sure you understand the risks.
Enjoy your weekend!
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||05/10 S||N/A||Short is for aggressive traders only.|
|CI Buy & Hold||04/28 L||N/A|
|CI Swing||Stopped out of long position on 05/11 flat.|
DEMO ACCOUNT FOR SHORT-TERM MODEL: