SHORT-TERM MODEL BELIEVES THE TREND IS UP, HODING LONG POSITION OVER THE WEEKEND
The bottom line, still expect a pullback, perfectly after a higher high Monday, because the pullback today wasn’t enough to eliminate all the extremes I mentioned last night.
Those who follow Cobra Impulse System, it’s time to adjust stop loss now, see table below for more details.
Enjoy your weekend!
thx,ding
Thanks and have a good weekend. I’m looking forward to reading your weekend report 😉
have a good weekend, Cobra.
Some kind of correction is in the cards – unless the big boys manage to engineer a push through 1295/1305 resistance. Chart is quite obvious.
Well, hopefully a day or two more push up to 1305! FOMC on 11/02, so asking for 2 more days up is not too much.
1300 area on Monday intra-day is my dream to short. Why? Resistance area and NYMO will be overbought again. When NYMO is overbought (85-90), I guess it is safe to say that there will be at least intra-day weakness the next day (assuming we close around 1300). If however, market opens down and keeps going down, it will be a waiting game to be long again.
Thx