Cobra's Market View Private Messaging System shows:
SHORT-TERM MODEL SEES A DOWNTREND, HOLDING BOTH LONG (TRAPPED) AND SHORT OVERNIGHT
The bottom line, today’s action confirmed what I speculated last night that a top of some kind was in. I expect more on the downside.
Mixed signals for tomorrow, but it seems the bearish side of signals weight a little more:
- 45 out of 71 times (63%) a green day after a Major Distribution Day.
- All the recent red FOMC days were followed mostly by 2 consecutive red days. 6 out of 6 down the next day, 5 out of 6 down the next 2 days.
- Bearish Thursday.
Those who follow TradingMarkets, the exit condition was met today.
Cobra Impulse System is trying to buy the dip, just the condition seems very tough to meet tomorrow, see table below for more details.
|MECHANICAL TRADING SIGNALS|
|DEMO ACCOUNT FOR SHORT-TERM MODEL (Attention: This is not part of Cobra Impulse System)|