Live Update

Monday, June 29, 2009

06/29/2009 Market Recap: Firework trading setup triggered


Firework trading setup triggered.

I still see this rebound is weak, another up day tomorrow will probably change my view.

Expect a pullback at least tomorrow morning.

  Trend Momentum Comments - Sample for using the trend table.
Long-term Down   Idea for trading intermediate-term under primary down trend.
Intermediate Down Neutral  
Short-term Up Neutral  

In the After Bell Quick Summary, I mentioned because CPC < 0.8, so 81% chances the market may close in green tomorrow, also a firework (means the stock market skyrocketing high) trading setup was triggered today. As I didn’t have enough data before posting the after bell quick summary therefore I also mentioned that I’m not sure if I could long from here. Now I have all the data, it seems that the market isn’t as overbought as I thought, so all I can say is possibly there could be a pullback at least tomorrow morning. Noted that my short-term prediction wasn’t very accurate recently (6/24 right, 6/25 wrong, 6/26 right, 6/29 wrong). From my experiences, once all my signals appear not worked so well then there’re possibilities the trend is shifting. So beware.


Institutional Buying and Selling Trending from as per request. From this chart we can see that institutions have started accumulation again. This is another sign that trend maybe shifting.


7.1.0 Use n vs n Rule to Identify a Trend Change, 1 vs 5, bears won, personally, I still see it as a sell-able bounce. Well, I’ll shut up if we do see a firework tomorrow.


Reasons for a possible pullback at least tomorrow morning:

1.0.4 S&P 500 SPDRs (SPY 15 min), 1.1.6 PowerShares QQQ Trust (QQQQ 15 min), Bearish Rising Wedge plus lots of negative divergence.


2.0.0 Volatility Index (Daily), new low (while SPX no new high) plus ENV 10 oversold plus STO way oversold. I believe that VIX will rebound soon, this means a pullback for SPX.


7.7.9 Russell 3000 Dominant Price-Volume Relationships, 1289 stocks price up volume down, this is a bearish readings.


Intraday model from, overbought.


Today’s ISEE All Indices & ETFs Only readings are 117. About what’d happen when readings > 100, the discussion is here: stuck-in-range.html.


  1. Great work but Couldn't get that last post to work.

  2. Just remove the space between the dash and 'stuck' and then reload.

    Otherwise you can find the referenced post in the archive under 06/12.


    P.S. Get well soon, Cobra. Thanks.

  3. Good work. I don't see the bear channel breaking, especially this week. They might do a throwover to trigger some stops, but the SUPERMAGNET will prevail as we have more downside work to do.

    The Channel

    The $XII -
    Institutional Index Channel
    Notice the nice 61.8% B-wave retracement of A.

    EOM/EOQ pump, then a July dump.

  4. so far, it seems ISEE is working... but day still young... I see SPX is going be harder to top today's high at 930 because we actually have a higher high and lower low than yesterday which makes it bearish engulfing... although QQQQ still not made a lower low yet and have better chance of climbing back... the thing I hate is the IYR, that sucker is holding strong at support line...




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