*Please make sure you understand how to use the table above. The main purpose of this report is to provide information so contradictory signals are always presented.
SEASONALITY: THE LAST TRADING WEEK OF RECENT MONTH WAS GENERALLY BEARISH
See 07/23 Market Recap for more details.
INTERMEDIATE-TERM: KEY WEEK THIS WEEK
Key week this week, as multiple pivot dates are due until 08/03. The market may turn down on any of those pivot dates to at least test the 07/01 low. However if the market simply keeps rising during this time window, then most likely the same March 2010 mad cow is back. See 07/23 Market Recap for more details.
SHORT-TERM: DIRECTION NOT CLEAR, A LITTLE BIT BULLISH BIASED THOUGH
Mixed signals，因此短期方向不明，要看明天。
熊熊有两个希望：
- Seasonality. See today’s After Bell Quick Summary for more details.
- Pivot price and date were met, so the market should turn down and the down size should not be small. See 07/26 Market Recap. 07/23 Market Recap里我说了，本周是考验我的pivot date forecast skill的时候，theoretically 07/27是个perfect turning point，不过，我没信心。
牛牛的希望在于今天的下跌不是很猛烈，因此看着不象是a start of the 2nd leg down to test the 07/01 low，反而有点Bull Flag的意思，且在up price channel的support上，因此不排除明天就反弹的可能。
下面两幅图稍稍对熊熊友好些，不过都有问题，所以I won’t read too much into them。
6.4.3a SPY Bearish Reversal Day Watch，这个图昨天提了，很少有2 failed bearish reversal day in a row的情况，因此今天跌了，as expected。下面的图只显示了bearish reversal day以后又follow through red day的情况，可以看到，7 out of 10 times a red day the next day since March 2009 bull market，不过longer history back test doesn’t show any edge for bears，这是为什么I won’t read too much into it的原因。
0.0.2 Combined Intermediate-term Trading Signals，3 points validated trend line破了，因此是说market top了，不过，还要看明天能否hold trend line，此外这个trend line也有点陡，所以我也不sure这个信号的有效性。
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
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