SHORT-TERM: ALMOST OVERSOLD ENOUGH FOR A GOOD BOUNCE
For Intermediate-term, I prefer to wait one more day to make my next call. For now it doesn’t look good though, especially Cobra Impulse System is in sell mode now (see today’s Trading Signals for details), while, as explained yesterday, Non-Stop is almost in sell mode, so officially to me the intermediate-term trend is down.
For short-term, as mentioned in today’s Trading Signals, underwater bulls better wait for a few days before panic because my two ultimate weapons for watching oversold, T2122 and NYMO, are now very close to oversold, so chances are any losing ground from now on would be recovered eventually.
INTERMEDIATE-TERM: BULLISH JULY
SEASONALITY: BEARISH FRIDAY BUT BULLISH WHOLE WEEK
See 07/22 Market Outlook for more details.
Also see 07/01 Market Outlook for July seasonality chart.
ACTIVE BULLISH OUTLOOKS:
- 07/01 Market Outlook: Bullish July. Also one more evidence in 07/05 Market Outlook.
- 07/07 Market Outlook: New NYHGH high means SPX higher high ahead.
ACTIVE BEARISH OUTLOOKS:
07/20 Market Outlook : Multiple evidences arguing for more pullbacks ahead. Also 2 more evidences in 07/25 Market Outlook .
- 07/22 Market Outlook: Bearish on AAPL, therefore QQQ as well.
SUMMARY OF SIGNALS FOR MY PUBLIC CHART LIST: