THE SHORT-TERM TREND IS UP, I HOLD BOTH LONG AND SHORT (TRAPPED) OVER THE WEEKEND
Mixed seasonality for the next Tuesday. On one hand, according to Stock Trader’s Almanac, day after Memorial Day, Dow up 8 of last 11. On the other hand, recently the Monday and Tuesday were mostly not so pleasant (see dashed red lines).
My guess, purely from the chart pattern, we should have at least one more push up the next Tuesday. This push up is critical because if it cannot make a decisive higher high, then there’re some chances that the rebound is over, the 05/25 lows will be revisited.
Those who plan to follow Cobra Impulse System, the short setup is no longer valid today.
Enjoy your long weekend!
MECHANICAL TRADING SIGNALS:
|Long-term||2 of 2 BUY|
|Intermediate||5 of 5 SELL||5 of 5 NEUTRAL||Cobra Impulse in SELL mode; Non-Stop in SELL mode.|
|Short-term||6 of 6 NEUTRAL|
|SPY SYSTEM||ENTRY||STOP LOSS||INSTRUCTION: back test is HERE, signals are HERE.|
|Non-Stop||05/10 S||N/A||Short is for aggressive traders only.|
|CI Buy & Hold||05/17 S||N/A|
DEMO ACCOUNT FOR SHORT-TERM MODEL: