Back to www.cobrasmarketview.com

12/02/2017 Weekend Update

Post Reply
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

12/02/2017 Weekend Update

Post by Cobra »

SPY hasn't touched its weekly ema20 for 55 weeks, this is a new record. the previous record was 47 weeks.

It tells me 2 things:
  • Usually after a long time no touch, the very first touch would be bought as people finally can buy at 20 week average price. So bulls should have no worry for now.
  • No one can have no touch of moving average forever, so SPY should owe us a pullback.
Attachments
6.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 12/02/2017 Weekend Update

Post by Cobra »

Statistics about SPY up 2 weeks in a row. We can see 76% chances higher high ahead the next week, so good chances another all time high the next week at least.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 12/02/2017 Weekend Update

Post by Cobra »

Here's the latest strong stocks count:
viewtopic.php?f=10&t=2696&p=247071#p247071

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 12/02/2017 Weekend Update

Post by Cobra »

ABC News clarifies, then corrects its bombshell report of Michael Flynn's discussions with Russia

https://www.cnbc.com/2017/12/01/abc-new ... eport.html
Earlier in the day, ABC cited an unnamed source saying Flynn was prepared to testify that he made overtures to the Russian ambassador at Trump's behest, while the heated presidential contest was underway.

Yet Friday evening, the network backtracked, saying Flynn would likely state that Trump's instructions occurred after the election. That distinction effectively altered the timeline and lessened the significance of the discussions — which according to ABC's report were meant to galvanize U.S.-Russian efforts to fight ISIS in Syria.
So the market was falsely informed therefore falsely fell. Monday might huge gap up to correct the Friday's false falls?

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 12/02/2017 Weekend Update

Post by Al_Dente »

Almanac:
"Rarely does the market fall precipitously in December."
http://jeffhirsch.tumblr.com/post/16808 ... -500-month
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Post Reply