Cobra's Market View Private Messaging System shows:
THE SHORT-TERM MODEL BELIEVES THE TREND IS UP HOLDING NO POSITION OVERNIGHT
The bottom line, as I said, we tested the Friday’s high and rolled over, so everything went as planned (insert evil laugh here, hai hai hai hai, how did that Sith Lord laugh? Well, just like that). However, again, in my daily report, I have to guess the top or bottom, but in the reality trading, to trade against the current trend which obviously is up, is always a dangerous thing, so unless you know what you’re doing otherwise my suggestion to you is to let the market go first, don’t ever try to be smarter than it.
Still lots of people are asking what happened the next day when both VIX and SPX are up on the same day, well, not much bearish edge on SPY and just a little bit edge on SPX, see chart below.
Those who follow the Cobra Impulse System, a long position was initiated today.