SHORT-TERM: IN WAIT AND SEE MODE

The low today happens to be on the lower edge of the Symmetrical Triangle, the world has been watching, so the direction is still not clear, need see tomorrow, for now the bias is still up though. Even it breaks down tomorrow, before the Nov 1st lows being taken, officially the trend is still up, so bears still have a long way to go.

SPXDaily

The chart below shows the potential target for tomorrow, assuming no sharp reversal tonight, which, frankly, I’ve got enough lessons (sharp reversals) recently, so dare not to say anything affirmative. Besides the target, there’s one thing I forgot to mention in today’s Trading Signals: In addition to that I don’t believe if down tomorrow we’d see sharp reversal again (like almost always happened recently), I also believe, even, there’s again another intraday reversal, chances are the rebound might be much smaller than the previous few times because apparently the reversals are becoming weaker and weaker with today’s the weakest.

SPY15min

Nothing else to say. The CPCI closed extremely high today which implies that big guys bought lots of put today, therefore usually, it's a sign of at least a short-term top. Just history shows the signal might not work well on OE week, so I’m not sure.

CPCI

INTERMEDIATE-TERM: WE COULD SEE MULTIPLE WEEKS RALLY, WILL NEED REASSESS SPX 1,000 DOWNSIDE TARGET

For why we could see multiple weeks rally, please see 10/14 Market Outlook for details.

For why SPX downside target at 1,000, please see 08/19 Market Outlook and 09/30 Market Outlook for details. I’m not sure about this call anymore, will need more evidences to reassess.

SUMMARY OF SIGNALS:
TREND MOMENTUM COMMENT
Long-term 3 of 3 SELL
Intermediate 3 of 5 BUY 5 of 5 NEUTRAL Cobra Impulse in BUY mode; Non-Stop in BUY mode.
Short-term ? 6 of 6 NEUTRAL
* = New update.

 

 

Chinese Transcript

SHORT-TERM: IN WAIT AND SEE MODE

今天收盘正好落在Symmetrical Triangle下沿,因此还是方向不明,需要看明天,暂时bias还是up,既使明天下破了,在11月1号的lows跌破前依然officially trend is up,所以熊熊还有很长一段路要走。

SPXDaily

下面的图显示了明天可能的target,假如今天晚上没有sharp reversal的话,老实说,我都给reversal怕了,所以已经不敢断言了。此外,今天的Trading Signals里我忘了提了,除了我不认为明天如果下跌,盘中会有sharp reversal(象最近总是发生的一样)以外,既使有,可能这个reversal的幅度也不会像前几次那么大了,因为今天的intraday reversal明显是最弱的一次。

SPY15min

其他没有什么好说的,CPCI今天很高,表示大户买了很多put,因此往往是至少短期顶的特征,不过这个信号在OE Week不怎么工作,所以我不确定。

CPCI

INTERMEDIATE-TERM: WE COULD SEE MULTIPLE WEEKS RALLY, WILL NEED REASSESS SPX 1,000 DOWNSIDE TARGET

For why we could see multiple weeks rally, please see 10/14 Market Outlook for details.

For why SPX downside target at 1,000, please see 08/19 Market Outlook and 09/30 Market Outlook for details. I’m not sure about this call anymore, will need more evidences to reassess.

SUMMARY OF SIGNALS:
TREND MOMENTUM COMMENT
Long-term 3 of 3 SELL
Intermediate 3 of 5 BUY 5 of 5 NEUTRAL Cobra Impulse in BUY mode; Non-Stop in BUY mode.
Short-term ? 6 of 6 NEUTRAL
* = New update.