09/07/2011 Market Outlook (More Up)


Cobra's Market View Private Messaging System shows:


SHORT-TERM: MORE PUSH UP AHEAD

The big picture, the market chose to go the 3 push up route, so the next watch point is the Aug 31 highs. If decisively broken, then there’d be a lot room on the upside. But before that decisive breakout, I’ll maintain my forecast that the Aug 9 lows will be revisited.

SPYEvilPlan

The short-term, should be more on the upside, the reasons is never was a Major Accumulation Day exactly the market top.

HHGuaranteed

Based on the evidence above and the recent pattern after ChiOsc rose too high, the chart below is my wild-est-est-est guess for the next couple of day.

SPY60min

INTERMEDIATE-TERM: SPX DOWNSIDE TARGET  IS 1,000, THE CORRECTION COULD LAST 1 TO 2 MONTHS

See 08/19 Market Outlook for more details.

SEASONALITY: BEARISH SEPTEMBER

See 09/02 Market Outlook for September seasonality.

SUMMARY OF SIGNALS FOR MY  PUBLIC CHART LIST: 

TREND MOMENTUM COMMENT
Long-term 3 of 3 SELL
Intermediate 4 of 5 BUY 5 of 5 NEUTRAL Cobra Impulse in BUY mode; Non-Stop in BUY mode.
Short-term DOWN 6 of 6 NEUTRAL
  TREND COMMENT
QQQ & Weekly DOWN  
IWM & Weekly DOWN  
SSEC & Weekly DOWN 4.1.4 Shanghai Stock Exchange Composite Index (Weekly): Long term support broken.
XIU & Weekly DOWN
DAX & Weekly DOWN  
TLT & Weekly UP  
UUP & Weekly DOWN
GLD & Weekly UP  
USO & 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.
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