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.
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.
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:
- 0.2.1 10Y T-Bill Yield: ROC(30) < –9, so bottomed?
- 8.1.5 Normalized CPCE: Too high, so bottomed?
6.4.2c Extremely Low TICK MA3 Readings Watch : Too low, so rebound?
- *0.2.2 Extreme Put Call Ratio Watch: $ONE:$CPCE MA(5) too low, so bottomed?
ACTIVE BEARISH SIGNALS:
ACTIVE BULLISH OUTLOOKS:
ACTIVE BEARISH OUTLOOKS:
- 06/03 Market Outlook: IWM weekly Bearish Engulfing and SPY down 5 consecutive weeks were bearish for the next 3 weeks.
- 06/08 Market Outlook: The very first rebound most likely will fail.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST: