Cobra's Market View Private Messaging System shows:
THE SHORT-TERM MODEL BELIEVES THE TRND IS DOWN HOLDING BOTH LONG (TRAPPED) AND SHORT THE WEEKEND
The bottom line, I believe the selling isn’t over yet.
In case you want to know, because people always like to ask, I don’t see either bullish or bearish edge the next Monday.
The short setup still not confirmed today but Cobra Impulse System will try to short again the next Monday, if SPY drops below today’s low and close in red. Because SPY had a dividend today, the price is not adjusted yet, so I used the SSO daily chart below in which you can see a little different than the SPY chart but the idea is the same. Enjoy your weekend!