Cobra's Market View Private Messaging System shows:
SHORT-TERM: IN WAIT AND SEE MODE
No idea about tomorrow. There’re 2 kind of bottoms: either panic or rebound before panic then soon a 2nd leg down to revisit the previous low. So if huge rebound starting from tomorrow, since I see no panic here then most likely it’s a sell opportunity.
Nothing else to say, all my ultimate weapons for watching the oversold condition I mentioned in 06/10 Market Outlook have not much change today so they’re still almost there. In addition, another very important indicator NYADV:NYDEC MA(10) is almost there too. So again, if rebound starts from today, I won’t be surprised, but if keeps selling off, it’s time for bulls to act self-restraint instead of panic.
P.S. The Intraday Comment Trailer seems worked, as I see more visits today. Thank you guys!
INTERMEDIATE-TERM: STATISTICALLY BEARISH FOR THE NEXT 2 WEEKS
See 06/03 Market Outlook for more details.
SEASONALITY: BEARISH MONDAY AND FRIDAY
According to Stock Trader’s Almanac:
- Monday of Triple Witching Week, Down down 8 of last 13.
- June Triple Witching Day, Dow down 7 of last 12, average loss 0.5%.
Also see 06/01 Market Outlook for June day to day seasonality.
ACTIVE BULLISH SIGNALS:
- 8.1.5 Normalized CPCE: Too high, so bottomed?
ACTIVE BEARISH SIGNALS:
ACTIVE BULLISH OUTLOOKS:
- 09/27 Market Recap: 9 POMO within 20 trading days means 14%+ up in 3 months.
- 06/10 Market Outlook: 75% to 81% chances a green next week.
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. 06/10 Market Outlook : 83% chances a lower low the next week.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST: