Live Update

Wednesday, July 22, 2009

07/22/2009 After Bell Quick Summary

Well, finally there’s no more sentence about “78% chances a green close tomorrow” which I’ve been saying for 5 trading days. And it turned out that 7x% is not something that I could simply doubt with some other reasons.

CPCWatch

Also I consider this morning’s gap down as the end of the firework trading setup.

Firework

As for tomorrow, except still overbought, I have no idea. Just I noticed that $CPCI is very high today at around 1.7, recently this kind of high readings happened after a series of down days and led to a series of up days thereafter. I cannot show the chart now as the CPCI chart doesn’t read correctly on www.stockcharts.com until 7:30pm ET.

 

Sorry, just got reminded that both SPX and VIX were down today which means 9 out of 12 times recently, an up day tomorrow.

SPXVIXWatch

8 comments:

  1. Thank you, Cobra. Today, VIX SPY both closed red. Does this mean a up day tomorrow?

    ReplyDelete
  2. Oh, yes, thanks. It means an up day tomorrow.

    ReplyDelete
  3. I appreciate your market view and good work. How many trading days are in your short term trend, intermediate trend, and long term trend?

    ReplyDelete
  4. Short-term may just a few days.

    Intermediate-term may last several weeks/months. I mainly use chart 0.0.3 as the buy/sell guide.

    Long term takes years. Chart 7.3.0 is the guide.

    ReplyDelete
  5. Your indicators are both enlightening and agonizing... only agonizing because I've been scaling into a short position for several days. Good stuff, thanks for the posts.

    ReplyDelete
  6. Isn't there another failed fireworks setup on 18th of May?

    ReplyDelete
  7. May 18 setup had plenty of time to get out with enough profit, so I don't think it's a failed setup.

    ReplyDelete

Disclaimer

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.