Live Update

Wednesday, June 24, 2009

06/24/2009 After Bell Quick Summary

I don’t see much edge for either bulls or bears tomorrow except that statistically the day after FOMC tends to be a down day recently.


According to “N vs N” rule, the rebound so far was weak.


Here again is the past example of how “N vs N” rule was used to detect a trend changes.


SPY has 7 unfilled gaps again as we all know that at least recently the SPY seemed to unable to hold the 8th up gap so at least bears should not be too worried about a gap up tomorrow if any.


The conclusion is that it might be a sell-able bounce especially if we get another gap up tomorrow.


  1. Cobra, thank you for your great work!

  2. Thanks very much! :)

  3. Hi Cobra,
    Great work. You are one of the best trader I have seen in the retail crowd.

    Hey, are you on tweeter? Also, I was wondering that you never post any trades. Traders like me would benefit huge if you post trades with your brilliant insight into the market. would love to hear your comments.


  4. Amanda, thanks, I'm trying to be neutral in my report (well, pretend to be neutral) so I believe I should not reveal my positions...

  5. Hi Cobra,

    Every time I review your charts I learn something.
    This is after the fact that I have been reading your blog and charts for four years.

    Any advice for losers in the market who don't quit


  6. Great work! Thanks!

  7. Cobra,

    Do you use the $TICK data / chart. If yes, how would you best use it?



  8. San, I think control the loss is the most important thing. Forcast is a reason to act but never a reason to average down or hold on without a stop loss.

    Richard, TICK +/- 1000 readings are useful to measure the market strength. But I never find they're useful in DT.

  9. Cobra, thanks so much for your reply. Best to you! Richard

  10. Cobra, future is flying high, anything bears should be concerned of? Thanks.



The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.

This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.