Summary:
Could be a down day tomorrow.
| Trend | Momentum | Comments - Sample for using the trend table. | |
| Long-term | Down | ||
| Intermediate | Up | Overbought | |
| Short-term | Up | Neutral |
As mentioned in the After Bell Quick Summary, because CPCE < 0.56, so it’s likely that we’ll have a red close tomorrow. Below is the correct chart after the CPCE data was fixed.
1.0.3 S&P 500 SPDRs (SPY 30 min), looks like a “kiss channel goodbye”, also a new Bearish Rising Wedge could be in the forming plus lots of negative divergences, so it looks bearish to me.
3.1.2 PowerShares DB US Dollar Index Bullish Fund (UUP 30 min), lots of positive divergences therefore US$ could rebound which usually means a pullback in the stock market.
Some sentiment signals are now at “too bullish” position, because of copyright protection I cannot list them here. The chart below is from www.sentimentrader.com, which we can see that dump money is way too bullish now. From the longer history chart “below below”, the current readings might not high enough though.
Hey,
ReplyDeleteI'm interested in advertising on your site. Can you please contact me.
Thanks!
kirk@theoptionwriter.com
ReplyDeleteHello Cobra,..
ReplyDeleteFri 08-07 is my next 3 wk cycle (likely pivot) date. My bias is that it will come in as a HIGH.
short term indicators not overbought,...I am looking for a couple days of upside from here.
Regards, Jim P.
Hi Cobra,
ReplyDeleteis there a reading on the upper side which could indicate a up day, just like the 0.56 for down day?
Thanks,
D.
D, I haven't found the rule yet. All you saw here are what I've found and they would stop working one day, just nobody knows when they will stop working.
ReplyDeleteHello Cobra,...Revised thought on Fri 08-07,...
ReplyDeletemy next 3 wk cycle (likely pivot) date. After today's (Thurs 08-06)trading, my bias is to expect a TURN UP tomorrow. Up move could extend into next likely pivot date on Tues 08-11. That is my bias now,..2-3 days of upside. Have a good day.
Regards, Jim P.
Jim
ReplyDeletesound good to me since i failed to get short on last move over 1000 again
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3449922&cmd=show[s174842792]&disp=P
i was thinking this might be a setup for that move
there seems to be as many reason to look for another move over 1000 next week as there are for a continued move lower
unless unemp #s and Fed pull through, im sure more lows are coming
Well if things were too bullish on Wednesday, they are now uber-super-bullish. I am getting killed
ReplyDelete