Cobra's Market View Private Messaging System shows:
THE SHORT-TERM MODEL BELIEVES THE TREND IS DOWN, HOLDING SHORT POSITION OVERNIGHT
The bottom line, lower low ahead but bulls no need to panic because bounce is on the way and so is the Thanksgiving.
A little bullish biased toward tomorrow for 2 reasons:
- SPY down 4 days, buy a close today and hold until the very first green day since the last 2,000 trading days, you had 82% chances. Not necessarily tomorrow though because if you sell at tomorrow close, you got only 60% chance.
- The day after a Major Distribution Day had 63% chances to close in green.
Decision time for Cobra Impulse System tomorrow:
- Break above today’s high and close in green, it’s a long which had 81% winning rate since the last 2,000 trading days.
- Break below today’s low and close in red, it’s a short which had 70% winning rate since the last 2,000 trading days.
- Again, I know it’s difficult to trade on CIS right now, I’ll sure find time to fix this stupid confirmation things but for now the first priority is to move to the new server, hopefully this Thanksgiving. Then I need finish the back test on the Portfolio System and then apply the research achievements to CIS to eliminate the confirmation requirement, well, hopefully.