SHORT-TERM MODEL BELIEVES THE TREND IS UP, HODING LONG POSITION OVER THE WEEKEND
The bottom line, still expect a pullback, perfectly after a higher high Monday, because the pullback today wasn’t enough to eliminate all the extremes I mentioned last night.
Those who follow Cobra Impulse System, it’s time to adjust stop loss now, see table below for more details.
Enjoy your weekend!
October 28, 2011 at 5:24 pm
thx,ding
October 28, 2011 at 5:50 pm
Thanks and have a good weekend. I’m looking forward to reading your weekend report 😉
October 28, 2011 at 9:42 pm
have a good weekend, Cobra.
October 29, 2011 at 3:04 am
Some kind of correction is in the cards – unless the big boys manage to engineer a push through 1295/1305 resistance. Chart is quite obvious.
October 29, 2011 at 10:01 am
Well, hopefully a day or two more push up to 1305! FOMC on 11/02, so asking for 2 more days up is not too much.
October 29, 2011 at 1:07 pm
1300 area on Monday intra-day is my dream to short. Why? Resistance area and NYMO will be overbought again. When NYMO is overbought (85-90), I guess it is safe to say that there will be at least intra-day weakness the next day (assuming we close around 1300). If however, market opens down and keeps going down, it will be a waiting game to be long again.
Thx
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