SHORT-TERM MODEL THINKS THE TREND IS DOWN BUT UNCONFIRMED, HOLDING BOTH TRAPPED LONG AND SHORT OVERNIGHT
I have no idea about tomorrow, the feeling is not bearish though.
- For the past 2 years, all bulls need are imagination and I’ve seen 6 consecutive up gaps (from 12/18/2009 to 12/28/2009), so really 4 consecutive up gaps really are nothing.
- And we had 3 consecutive 16+ points SPX gap up from 03/17 /2011 to 03/21/2011, so again the 4th 20 SPX points gap up tomorrow is not entirely impossible.
Well, hope you’ve got my sarcasm despite my beautiful Chenglish. Put all the emotional stuff aside, despite I’m not yet ready to give up the forecast that the Aug 9 lows will be revisited but if the market really wants to go up from here, then so be it, I won’t argue a single word (well, I mean aloud, I would still be murmuring…).
Those who follow Cobra Impulse System, the short setup not confirmed and no longer valid and the long position got stopped out today. I think I’ve made it very clear it’s up to you to decide when to take partial profits so don’t blame me for keep getting stopped out… LOL.
|MECHANICAL TRADING SIGNALS|
|DEMO ACCOUNT FOR SHORT-TERM MODEL (Attention: This is not part of Cobra Impulse System)|