I have no idea about tomorrow because I don’t see any tricks I’ve been using so far for the last couple of weeks.
Four points for you to consider:
- SPY opened with an up gap for 4 days in a row. What about the 5th day?
- From the today and yesterday’s market actions, looks to me that it’s very difficult for SPY to hold the 10th up gap. Both gaps were filled intraday.
- Tomorrow will be the end of a 13 trading day cycle (purple vertical lines), so could potentially be a turning point.
- Seasonality wise, tomorrow is the 2nd most bullish day in Aug.
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will be 3rd strike to resistance line. psat two failed.
ReplyDeletethanks for the hard work
ReplyDeletethx, ding
ReplyDeleteglad you admit to not knowing what's in store for tomorrow. Finally gave up?
ReplyDeleteAnony at 6:15pm, this is the last time I say, you're not welcome here!
ReplyDeleteApparently, your purpose here is just to bash. Because you didn't check my report very often so you don't even know for the last 60 trading days, I only did 34 forcast for the next day, which means I said lots of "I have no idea about tomorrow". You didn't read, you shouldn't say anything against me. You just lost your last respect from me. Sorry, next time a delete will be waiting for you. You don't deserve I spend any time on you.
Cobra, most of your indicators were built during Bear market, and failed badly during this super strong bull market. I think you could do a clean up of your indicators to accomodate the bull phase.
ReplyDeleteCobra, Tomorrow is going to be an up day to wrap up this rally.
ReplyDeleteAnony at 6:22pm, thanks, acutally I do clean up almost every a few weeks, now the charts in my chart book are very different from monthes ago.
ReplyDeleteIn a strong bull market, no indicators are needed, simply buy and buy and everyone will be rich. LOL.
gravestone doji today, bearish
ReplyDeletefor those that follow financial astrology, tomorrow is the last day (August 10-26) of "cosmic cluster" which has been known to produce very wild market swings; would be fitting for P3 to start here
Thanks for your hard work!
ReplyDeleteThanks Cobra for all the work that you generously share,
ReplyDeletei held my shorts, because today felt very bearish to me.
the dow won't be going anywhere without oil, thus i'm hoping for the remainder of this week to be down or red..
As much as I like to see the market start P3, I don't see that happening until volume comes back into the market. Maybe after labour day this September? The PPT (or Goldman Sachs) will continue to buy up the market everytime we get a small correction. Remember, they have FREE Money... and as much as they want of it. I'm looking for another leg up to start within a day or two. I wouldn't be shorting here just yet. I've been a bear on every post, and I'm still a bear, but I've been bull-horned one to many times to go short tomorrow.
ReplyDeleteDan Black
thank you.
ReplyDeleteI'm just a passive reader of your blog and I never post on any other blog, but I have to say I find yours to be very informative. Just when I think you have shown all your bag of tricks you bring out another indicator or chart to back up your case. Very good stuff. Keep it up and please ignore the riff raff, read: anony posts. Thanks again!!
ReplyDeleteThank you for your hard work. I look to your site every day. Thank you.
ReplyDeletegood job!!!
ReplyDeletenice work, i have become a regular reader... your blog roll is great too
ReplyDeleteCobra, keep up the good work, thnx
ReplyDeletewe're coming into end of month, mutual fund buy at end of month chasing the latest winner - yes/no?
Labor day coming, holiday spirit rally maybe?
unlimited free money to market insiders for buying dips/painting tap at the close
Can't see any reason to be short any time soon
J-man
hey Cobra,
ReplyDeleteignore the haters man! You're doing a great job
Re: Anon at 7:58pm
ReplyDeleteMarket insiders are selling heavily in the past 4 weeks. Lots of reason to sell here stupid!
No reason to sell until volume to the downside picks up...otherwise the trend up will continue. Bears need to see the crowd running for the exits in mass through a narrow door, which won't happen until we see a massive down move at the close! (not at market open...that leaves to much time to recover). By the way, Cobra's site rocks!
ReplyDeleteoo said...
ReplyDeleteRe: Anon at 7:58pm
Market insiders are selling heavily in the past 4 weeks. Lots of reason to sell here stupid!
And how are your shorts working these past few months?
Hi, guys, argument supported by reasons are welcome here, just don't mock each other, thanks.
ReplyDeleteSelling is coming. Please refer to this study I did on divergences in the put/call ratio.
ReplyDeletehttp://stockcharts.com/h-sc/ui?s=$CPC&p=1&yr=0&mn=3&dy=0&id=p35692821268&a=176394486
About waiting for volume to kick in.
ReplyDeleteI am not sure but from my readings all of the bear market rally happend on declining volume.
So as this could be indicator that that is "fabricated" where should volume come from?
Nobody is really invested.
BTW I remember about hearing or reading a report about the Bilderberg meeting. And somebody with "insider information" said at that time that there was no real big thing discussed but that the plan was to start a rally to get the last money people had left into the market.
So maybe we need real volumen to the upside for some days to be sure that goal is reached.
If the theory is right most money till now came (indirect) from the government of the US.
Market volume needs to come from the big institutions/mutual funds/hedge funds that will want to lock in performance when the market starts to move down. In big I mean the Goldman, JP, American Funds, Fidelity, etc. Not any institution will do. It is definitely not "shorts" that will be able to take down the market.
ReplyDeleteThanks, Cobra. Good to hear you saying no idea, since I have no idea either, and I always loved to be on your side. LOL.
ReplyDeleteCobra - your blog is a daily read for me ... awesome work .... :)
ReplyDeleteMAD tomorrow...........yeah...........
ReplyDeletespeaking of bilderberg group, there is a very disturbing 2 hour video out there about this group and their goals, very very disturbing
ReplyDelete