Live Update

Thursday, July 16, 2009

07/16/2009 Market Recap: No Title


Firework continues, but a profit taking condition was met.

Could be a pullback tomorrow.

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

As mentioned in After Bell Quick Summary, because CPC < 0.8 so 77% chances a green close tomorrow. Also 7.3.2 Firework Trading Setup, firework still on. Just pay attention to NYADV at bottom, it’s probably the time to lock at least partial profits. (Yeah, I know, the signal was too late this time, just one day profit, well, still better than guy like me who has no guts.)


0.0.0 Signal Watch and Daily Highlights, just take a look, intermediate-term mostly buy signal now. Also some paid services have asked their subscribers to take long positions today. Personally, although statistics say a 77% chances a green close tomorrow, but I still expect a pullback soon. Listed below are some (I think) reliable signals:

0.0.3 SPX Intermediate-term Trading Signals, look at red vertical dashed lines, looks like the current ChiOsc position always led to a big pullback in the past.


2.4.2 NYSE - Issues Advancing, pay attention to the red vertical dashed lines, whenever they hit the thick horizontal red line above, there was a pullback. Also pay attention to the red cycles bellow, as mentioned in 7.0.9 NYADV and NYUPV Divergence Watch, this kind of NYADV NYUPV negative divergence usually means a top. Well, I'm really too scared to think that this time this kind of divergence still works…


T2103 - Zweig Breadth Thrust from Telechart, the overbought signal is quite accurate.


7.7.9 Russell 3000 Dominant Price-Volume Relationships, 1610 stocks price up volume down. The number is a little bit too big therefore I consider it as a bearish sign.



  1. Cobra,
    Thanks for sharing your charts and your analysis of them... you've taught me a bundle...

  2. Cobra,

    How come you don't do any fundamental inputs?

  3. Because I cannot do FA and also I found mix TA and FA usually don't work well (at least for me).

  4. Not necessary FA but thoughts on other stuff?

    Not a research paper but sentence or two of opinions you get from any other materials.


  5. One of these days those of us calling for the pullback will be right!

  6. Please stay away from FA

    I personally (and I know many others here) have found it useless

    Hence, why we're interested in quantitative or technical analysis only

  7. i mainly do FA, but cant say im more accurate than cobra.. but some breakouts, like monday with meredith whitney ratings, was great fundamental impulse

  8. Cobra - Love your charts. Can you post a long term chart of the 1.0.9 S&P 500 Bullish Percent Index. I am just curious about past performance of this signal. Thanks John

  9. A little bit larger chart:$SPX&p=D&b=3&g=0&id=p28656393723&a=173159250



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