SHORT-TERM: IN WAIT AND SEE MODE

No conclusion today, need see tomorrow. According to the 7-Day Rule, since we had a down day today, so this means absolutely no red day for the rest 3 days, otherwise we’ll have another evidence arguing what we had till now is merely a rebound.

7DaysRule

QQQ Hollow Red Bar could mean a top of some kind, need see tomorrow as well.

QQQ

The chart below is my wild-est-est-est guess about what's going on the next (subject to change at any time of course). The main theory is still the rebound looks like a Bear Flag or Pennant, therefore at least the 08/09 lows will be revisited eventually.

SPYEvilPlan

INTERMEDIATE-TERM: CONCEPT ONLY, THE WORSE CASE SPX DOWNSIDE TARGET  IS 1,000

See 08/05 Market Outlook for more details.

SEASONALITY: BULLISH MONDAY AND FRIDAY

According to Stock Trader’s Almanac:

  1. Monday before August expiration, Dow up 11 of last 15.
  2. August expiration day bullish lately, Dow up 7 in a row 2003 – 2009.

ACTIVE BULLISH OUTLOOKS:

ACTIVE BEARISH OUTLOOKS:

SUMMARY OF SIGNALS FOR MY  PUBLIC CHART LIST: 

TREND MOMENTUM COMMENT
Long-term 2 of 3 SELL
Intermediate 5 of 5 SELL 4 of 5 NEUTRAL Cobra Impulse in SELL mode; Non-Stop in SELL mode.
Short-term UP 6 of 6 NEUTRAL
  TREND COMMENT
QQQ & Weekly DOWN  
IWM & Weekly DOWN  
SSEC & Weekly DOWN  
EEM & Weekly DOWN  
XIU & Weekly DOWN  
DAX & Weekly DOWN  
TLT & Weekly UP  
UUP & Weekly DOWN
GLD & Weekly UP  
USO & Weekly DOWN  
XLE & Weekly DOWN 4.4.1 Energy Select Sector SPDR (XLE Weekly): BPENER oversold.
XLF & Weekly DOWN 4.4.2 Financials Select Sector SPDR (XLF Weekly): Breakdown long term support!
IYR & Weekly DOWN  
XLB & Weekly DOWN  
  • * = New update; Blue Text = Link to a chart in my public chart list.
  • UP = Intermediate-term uptrend. Set when weekly buy signal is triggered.
  • DOWN = Intermediate-term downtrend. Set when weekly sell signal is triggered.