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Tuesday, August 10, 2010

08/10/2010 Market Recap: No Title

  TREND MOMENTUM COMMENT
Long-term 2 of 2 are BUY    
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 5 of 5 are NEUTRAL Trend is up, but the model did nothing today.
GANN DAY MOON/SOLAR CYCLE CONCLUSION
8/11,8/26 08/09 / 08/08 8/9,8/11,8/23 Next pivot date: 08/06 – 08/11, 08/23 – 08/26
BULLISH
BEARISH 6.2.3 VIX:VXV Trading Signals: Too low.
0.2.5 NYSE Total Volume: A little bit low.
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 07/30 low
*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 FIRST NINE TRADING DAYS OF AUGUST ARE HISTORICALLY WEAK

See 07/30 Market Recap for more details.

INTERMEDIATE-TERM: THE CORRECTION SINCE 04/26 ISN’T OVER, THE REBOUND SINCE 07/01 IS NEAR END

Maintain the following forecast:

  1. The correction since 04/26 isn’t over and the rebound since 07/01 is near end. See 07/30 Market Recap for more details.
  2. Potential rebound price target is SPX 1131 and time target is around 08/10. See 08/06 Market Recap for more details.

SHORT-TERM: NO IDEA

Nothing to say today. Will have to wait for a few days to see the market’s real reaction toward the FOMC, so I’ll take today off and skip the After Bell Quick Summary.

The follow 2 charts are for fun only.

NFP day usually was green, the only few red days in the chart (red arrows), interestingly, were all turning days. So are we going to have an exception this time?

2

FOMC day was also likely a green day. The days after the only few red days in the chart (red arrows), were all not very bull friendly.

1


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
IWM UP 4.1.2 Russell 2000 iShares (IWM Weekly): 2 black bars in a row, doesn’t look good.
CHINA UP
EMERGING UP
EUROPEAN UP
CANADA UP
BOND UP
EURO UP
GOLD DOWN
GDX DOWN
OIL UP
ENERGY UP
FINANCIALS UP
REITS UP 4.4.3 Real Estate iShares (IYR Weekly): Home builder is lagging, be careful.
MATERIALS UP
Posted by Cobra at 5:06 PM
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