The bottom line, the short-term trend is up, I hold both long and short over the weekend, kind like profits locking, although strictly according to my short-term model, I should hold no position over the weekend.
I’ve got mixed signals for the next Monday. My best guess is since today is a Major Accumulation Day (NYSE Up Volume to NYSE Down Volume >= 9), so the next Monday shall be a small range bar and whatever gap, up or down, if any, shall be filled on the same day. So no hurry in making any decision now no matter you’re bull or bear.
Now let’s take a look at those mixed signals.
Bear’s camp:
Seasonality doesn’t favor bulls for the first 2 days of the next week according to Stock Trader’s Almanac.
Also selling short at today’s close and cover at close the next Tuesday WAS mostly profitable since Sep 2009.
And slightly bearish next Monday because NYADV closed above 2600.
Bull’s camp:
When CPC <= 0.81, 44 out of 65 times (68%) a green day the next day.
Enjoy your weekend!
