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If it's another 1 % day, that's 5740. Not a prediction. Just a possibility at this point. :) Moved stop to B/E now. Will add on the Open if it's a gap and go and I'm not stopped by then.

Surprise! We popped. Chased the long at 96. Smallest size. Stop at 85 for now.

The risk/reward doesn't seem worth it. 50/50 outcome with equal risk/reward? Should be fun to watch. If we get a massive dip - I'll take my chances. If it's a weak pop - maybe chase a long. If it's a strong pop, well, probably just have to wait and see.

Awesome. With SPX possibly hitting 6000 this year, there's plenty of upside still. Yet, so many 'smart people' keep looking for a market crash on a daily basis instead of just going with the flow and taking the easy bucks. Think I'll sit out the CPI release today. If the markets were down...

LOL at this thread.

LOL. No. Could get 6000 by year end, though. Not sure if you're serious most of the time, but still tend to get a good chuckle from your posts. The most hated bull market forever marches on.

What is or was your CPI play?

Yes. I was referring to picking a market top/correction in case there was any confusion. I'd rather buy puts going into today's number if I had to. After a 1 % up day and markets at ATHs going into one of the most, if not the most, important number lately. Not sure if he's 100 % serious all...

Miss the move? Better to miss a tiny pullback than stepping in front of the freight train which was my point. If there's a substantial pullback or correction - there will be more than enough time to capitalize on it. And if it's just a pullback, well, be ready to re-enter long. :) Let's see...

OP in January 2007 when SPX was around 1400-1500. There's been a lot of volatility since that with the index value now at 5633.91. And it's been 344 (!) trading days since the S&P500 had a decline of 2 % or more. The 21st of February 2023.

Wise call. Same outcome as the last time you went 'bearish'. Stick to your original gameplan until we get that big red candle. :) Tomorrow could definitely see a nosedive. Nobody knows. I know the gambler in me would be tempted to hold a position, but I'll be flat on that release.

I'm conflicted. I love England, but I have relatives from the Netherlands, so it's a draw. You? Spain should win the finale anyway, though. :)

Yes, but that's all hindsight. :) At that point, I didn't know. I didn't really get confidence in the long side today until we broke above 5600 SPX. When I was stopped out on my long at 41 it wasn't clear to me that we wouldn't fill the gap from yesterday.

The day turned out okay after all. Funny thing is I wasn't even that confident in the long side this morning and even took a short, but I figured we'd get that 5600 SPX touch if we broke out. On the morning rally I was wondering if that was it and I took a loss on my initial long. Went long...

I observe some people who are shorting this, so that 5680 target looks fairly certain. One last death stab of the bears. Markets are primed for a nosedive if tomorrow's CPI comes out hot.

I had doubts this morning for sure. I won't deny it. Probably my statistics (may not be relevant in this euphoric market) and perma-bull @v-shape-0DTE buying puts. 5680 is my new 'crazy' target for today.

RIP shorts. The day is still young. That 70 target which seemed like a reach is only 9 points shy.

No reaction yet. Let's see if this can squeeze for another 10-15 points to 5665/70.

SPX 5600 magnet just tagged.

It does look like it can pop, though, doesn't it?