Wednesday, July 8, 2009

07/08/2009 After Bell Quick Summary

I see good chances a rebound tomorrow as the short-term model from www.sentimentrader.com is way too oversold.

STEM.MR

A clear Double Bottom is formed on the SPY 15 min chart so the rebound target could be $88.72.

SPY15min

Just tomorrow will be the end of a 7 trading day cycle so if the market does rise then probably it will be down the day after.

SPY60min

at

16 comments:

  1. 开小差July 8, 2009 at 6:19 PM

    thx. ding

    ReplyDelete
  2. AnonymousJuly 8, 2009 at 6:21 PM

    what is the 7-trading cycle rule? Thanks

    ReplyDelete
  3. CobraJuly 8, 2009 at 6:24 PM

    Check the last chart for the 7 trading day cycle marked by the cyan vertical lines.

    ReplyDelete
  4. AnonymousJuly 8, 2009 at 6:39 PM

    I do not understand:

    yesterday at the close the market was NOT oversold.
    Today we finish near the same levels, and suddenly the market is "way too oversold" ?

    Thanks for this nice blog anyway !!!

    ReplyDelete
  5. CobraJuly 8, 2009 at 6:42 PM

    Price level doesn't tell the oversold level.

    Yesterday was not oversold in short-term (a few days term) while it was already oversold very short-term (means an intraday rebound which we did get it today). Now very short-term is very oversold and short-term is a little bit oversold.

    ReplyDelete
  6. AnonymousJuly 8, 2009 at 6:50 PM

    Do you think we will finish the SHS pattern ? More down next week? thx !

    ReplyDelete
  7. AnonymousJuly 8, 2009 at 6:54 PM

    Anonymous 3:39:

    go to http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis

    ReplyDelete
  8. CobraJuly 8, 2009 at 7:19 PM

    H&S is still valid.

    ReplyDelete
  9. AnonymousJuly 8, 2009 at 9:20 PM

    Thanks!

    ReplyDelete
  10. JanezJuly 8, 2009 at 9:41 PM

    Thanks for your blog. Much appreciated.

    ReplyDelete
  11. guudooJuly 9, 2009 at 1:05 AM

    ha,you find time zone la .
    i use it for a while, sometimes it doesn't right
    sometimes. it works.

    the key point find the first zone first.

    ReplyDelete
  12. trouducJuly 9, 2009 at 6:43 PM

    I think all your rules are useless. I have been following your blog for some time...and your tips aren't helping at all. Thanks for the time you spend writing but...you should build your blog on something else...

    I'm saying this : I am talking about what you were saying these ast days...but it was the same thing when you were seeing the end of the rebound everyday a fex weeks ago (in may ?)...

    ReplyDelete
  13. CobraJuly 9, 2009 at 6:55 PM

    Trouduc, all I can say are I'm still learning. Regardless how useless you think I'm and will be, I work hard that's all I need to know for myself. I've been sick for 2 weeks now, but never did I miss any of those useless reports. Don't you think hard work can eventually change something even I might be the most stupid man in the world?

    ReplyDelete
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