06/09/2011 Market Outlook (Better be up day tomorrow)


Cobra's Market View Private Messaging System shows:


SHORT-TERM: MAY UP MORE BUT THE SELLING ISN’T OVER YET

Nothing to say, the rebound today so far looks like a Bear Flag, so still think any (further) rebound is a sell.

SPY60min

For tomorrow, bulls and bears may have equal chances (Down 11 out of 21), however, better be an up day, otherwise see chart below (for your conveniences, I put all the cases that SPX down 5 or more consecutive days into one chart), 9 out of 11 times (blue cycles while green arrow represents today), SPX kept going down thereafter.

Down5orMoreDays

INTERMEDIATE-TERM: STATISTICALLY BEARISH FOR THE NEXT 3 WEEKS

See 06/03 Market Outlook for more details.

SEASONALITY: NO UPDATE

See 06/01 Market Outlook for June day to day seasonality.

ACTIVE BULLISH SIGNALS:

ACTIVE BEARISH SIGNALS:

  • N/A

ACTIVE BULLISH OUTLOOKS:

ACTIVE BEARISH OUTLOOKS:

HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST: 

  TREND COMMENT
SPY & Weekly DOWN Clear breakdown, target March lows as well as MA(200).
QQQ & Weekly DOWN  
IWM & Weekly DOWN Head and Shoulders Top breakdown, target $74.57.
SSEC & Weekly DOWN  
EEM & Weekly DOWN  
XIU & Weekly DOWN  
TLT & Weekly UP *Dark Cloud Cover while revisit the previous high, expect further pullback.
UUP & Weekly DOWN  
GLD & Weekly UP  
GDX & Weekly DOWN Volume surge, may be bottomed for at least short-term or close.
USO & Weekly DOWN
XLE & Weekly DOWN  
XLF & Weekly DOWN  
IYR & Weekly UP  
XLB & Weekly DOWN  
  • * = New update; Blue Text = Link to a chart in my public chart list.
  • UP = Intermediate-term uptrend. Set when weekly buy signal is triggered.
  • DOWN = Intermediate-term downtrend. Set when weekly sell signal is triggered.
© 2013 Cobra's Market View — All Rights Reserved.