Have Qs topped today?

What's your take?

  • Agree

    Votes: 36 67.9%

  • Disagree

    Votes: 17 32.1%
  • Total voters
    53
Quote from Pekelo:

I called for 1111 SPX top for the year, we only made it up to 1001 though. I think we have seen the top....
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Yes I saw your call, very good so far.
 
lots of resistance @ 43 area. possible double top at 43.73, look for a close under 43 to get the party started. Tech earnings wise has been very strong so be careful. You can protect yourself pretty cheap with qqqq options liquid as hell. :)
 
Quote from kinggyppo:

lots of resistance @ 43 area. possible double top at 43.73, look for a close under 43 to get the party started. Tech earnings wise has been very strong so be careful. You can protect yourself pretty cheap with qqqq options liquid as hell. :)
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Thanks for the advice man, I try not to use hedging strategies. It will be interesting next week from the looks of things.
 
I thought I would post Daily chart, since it's EOW. Pretty self explanatory stuff TA101 :)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2616286>
 

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Quote from Petsamo:

I'm still the only one with the disagree vote. :)
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why do you disagree here but started a new thread about the market top in the SP>>

troll
 
Quote from JSSPMK:

Todays' 43.14 close marks an intermediate top in the Qs (ImPO)

Risk control breach of 44.5

Target around 35-36

Price action has been weakening across the board, Qs current upside cycle has put in only ~+1.5 compared with previous 4 cycles' of an average of ~+3.75. Today closed with a bearish hammer.
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<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2618790>
 

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