Cobra's Market View Private Messaging System shows:
THE SHORT-TERM TREND IS DOWN, I HOLD SHORT POSITION OVERNIGHT
Doesn’t feel good about the market action today but no decisive breakdown yet and the selling was not broad based, so need see tomorrow.
Potential short setup for Cobra Impulse System, need 2 conditions to confirm the trade though. Well, I know, sometimes wait until the close to confirm the trade would be too late, but take a position intraday does need some experiences. Guess we’ll have to live with this until I figure out a better way to confirm a signal.
- Breakdown below today’s low.
- Eventually close in red.
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||*Close long and start short if break below 05/16 low and close in red tomorrow.|
|CI Swing||*Short if break below 05/16 low and close in red tomorrow.
The stop loss will be 2.0 * ATR(10).
DEMO ACCOUNT FOR SHORT-TERM MODEL: