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Tuesday, July 27, 2010

07/27/2010 Market Recap: Key Day Tomorrow

  TREND MOMENTUM COMMENT
Long-term 1 of 2 are SELL    
Intermediate 3 of 3 are BUY 5 of 5 are NEUTRAL SPY ST Model in BUY mode; Non-Stop in BUY mode
Short-term Model is BUY 3 of 5 are OVERBOUGHT Long on 07/23, hold partial overnight.
GANN DAY MOON/SOLAR CYCLE CONCLUSION
07/27 07/25 / 07/23 07/26, 07/31, 08/02 Next pivot date: 07/26 – 08/03
BULLISH
BEARISH 0.2.3 NYSE McClellan Oscillator: Overbought.
T2122 overbought.
SPY SETUP ENTRY DATE STOP LOSS INSTRUCTION: Mechanic signals, back test is HERE, signals are HERE.
TRADING PLATFORM: SSO/SDS, UPRO/SPXU
Non-Stop 07/15 L N/A Be sure to check 8.2.2a to 8.2.2g to understand the risks.
ST Model 07/20 L Breakeven
*Please make sure you understand how to use the table above. The main purpose of this report is to provide information so contradictory signals are always presented.

SEASONALITY: THE LAST TRADING WEEK OF RECENT MONTH WAS GENERALLY BEARISH

See 07/23 Market Recap for more details.

INTERMEDIATE-TERM: KEY WEEK THIS WEEK

Key week this week, as multiple pivot dates are due until 08/03. The market may turn down on any of those pivot dates to at least test the 07/01 low. However if the market simply keeps rising during this time window, then most likely the same March 2010 mad cow is back. See 07/23 Market Recap for more details.

SHORT-TERM: KEY DAY TOMORROW

Not much to say today, see chart below, if up big tomorrow then mad cow ahead, if Doji or red day tomorrow, then the pullback has already started. As whether the pullback is the start of a 2nd leg down or just a short-term pullback will have to see the strength of the pullback. So let’s wait for tomorrow.

 NYADVWatch

The chart below shows all the Bearish Reversal Days since the March 2009 bull market. Looks to me, there’s never 2 failed Bearish Reversal Days in a row, so be careful.

BearishReversalDay 


HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
  TREND COMMENT – *New update. Click BLUE to see chart if link is not provided.
QQQQ UP 4.1.1 Nasdaq 100 Index (Weekly): Bearish 1-2-3 formation, target 1565.
IWM UP
CHINA UP
EMERGING UP 4.1.6 iShares MSCI Emerging Markets (EEM Weekly): Bear Flag?; EEM:$SPX too high.
EUROPEAN UP 4.1.7 Vanguard European VIPERs (VGK Weekly): Bearish 1-2-3 formation, target $35.45; Bear Flag?
CANADA DOWN 4.1.5 iShares CDN S&P/TSX 60 Index Fund (XIU.TO Weekly): Bearish 1-2-3 formation, target $15.30.
BOND UP
EURO UP
GOLD DOWN 4.3.0 Gold Trust Shares (GLD Weekly): Head and Shoulders Bottom, target $129.99.
GDX DOWN
OIL UP 4.4.0 United States Oil Fund, LP (USO Weekly): Bear Flag?
ENERGY UP 4.4.1 Energy Select Sector SPDR (XLE Weekly): Bearish 1-2-3 formation, target $43.14.
FINANCIALS DOWN
REITS UP
MATERIALS UP
Posted by Cobra at 8:12 PM
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