Gotta love ZERO RISK in the SP500 = $$$

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It's almost comical.
 
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ES 1D Chart
The Index violated the bear trend(red line) and is testing the less significant return line (blue). The W pattern's price target at 2150-2170 points is 95-100 points ahead. We adjust the minor bull trend.

Bears: The long awaited correction may be near, Either stick to hit and run trades using tight stops, or calculated hedges. Potential Trades: Short at the return line 2065, 2070 Exit at 2050 or let it run. SL 2072.

Bulls: Another close above 2070 and the way to 2134-2150 is clear. Potential trades: Long at 2050 or above 2070.

Day Traders: potential trades: Enter 2054 and exit 2068.
 
classiccharts17 said:
View attachment 158531

ES 1D Chart
The Index violated the bear trend(red line) and is testing the less significant return line (blue). The W pattern's price target at 2150-2170 points is 95-100 points ahead. We adjust the minor bull trend.

Bears: The long awaited correction may be near, Either stick to hit and run trades using tight stops, or calculated hedges. Potential Trades: Short at the return line 2065, 2070 Exit at 2050 or let it run. SL 2072.

Bulls: Another close above 2070 and the way to 2134-2150 is clear. Potential trades: Long at 2050 or above 2070.

Day Traders: potential trades: Enter 2054 and exit 2068.
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Im honestly thinking in my head that tomorrow is a good day to sell, who in their right mind that has money to back up their idea would actually be buying stuff like AMZN, or GOOG up this much from the lows already, going out on a limb, but i think tomorrow the rally fizzles, the shorts are already long gone, and the only people who are going to chase this thing and buy it up 10 more points tomorrow are pikers with no respect for risk, Ive been wrong like twelve days in a row though so dont take my word for it, but i just cant picture who is left to buy this market here tomorrow other than suckers.

I still think we confirmerd we are in bull mode so im not going to short it, but i think a washout tomorrow, or atleast a panicky open, is plausible.
 
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Rickshaw Man said:
Please understand it's not my intention to taunt anyone. I just want people to see the obvious. How can it be so obvious to me and know one else. Over the past decade I've learned a lot.
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You've been very correct lately...I noticed that once Q4 began this market really started to return to its "normal state"...very hard to adapt to that mentality though, after a solid month of Chinese devaluations, overnight futures declines, etc...the "risk on/risk off" changes on a dime.
 
Max E. Pad said:
Im honestly thinking in my head that tomorrow is a good day to sell, who in their right mind that has money to back up their idea would actually be buying stuff like AMZN, or GOOG up this much from the lows already, going out on a limb, but i think tomorrow the rally fizzles, the shorts are already long gone, and the only people who are going to chase this thing and buy it up 10 more points tomorrow are pikers with no respect for risk, Ive been wrong like twelve days in a row though so dont take my word for it, but i just cant picture who is left to buy this market here tomorrow other than suckers.

I still think we confirmerd we are in bull mode so im not going to short it, but i think a washout tomorrow, or atleast a panicky open, is plausible.
More...

Another short here Max. My net is somewhere between 2020-2030. It is a mental game now, the math is still in my favor even if we rally to 2150 but needs a lot of patience and nerves. I m no day trader so i can hold on a while. Cant imagine going long here (very small trades only).
 
Max E. Pad said:
Im honestly thinking in my head that tomorrow is a good day to sell, who in their right mind that has money to back up their idea would actually be buying stuff like AMZN, or GOOG up this much from the lows already, going out on a limb, but i think tomorrow the rally fizzles, the shorts are already long gone, and the only people who are going to chase this thing and buy it up 10 more points tomorrow are pikers with no respect for risk, I've been wrong like twelve days in a row though so don't take my word for it, but i just cant picture who is left to buy this market here tomorrow other than suckers.

I still think we confirmed we are in bull mode so im not going to short it, but i think a washout tomorrow, or at least a panicky open, is plausible.
More...

yea I fully agree..but I have been wrong too lately. But it may work out that the rest of the FANG will keep the bull move going. I would think Facebook has good earnings and Gilead always pulls great earnings out of a hat. Then, even if Apple and Baba only beat on the downside they will spin it like its Christmas

But your right, there is nothing on the horizon for Friday and Monday so we might see some profit taking before Oct 27
 
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