How high can the S&P go?
- Thread starter Romeo
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Me thinks the market is getting a bit "tired" here and that we could see a decent sell-off starting next week.
Besides, how much better can the economic news get going forward, especially in light of the extremely positive announcements the past 10 days?
However, there is one caveat.
I'm hearing that there are some HUGE asset-allocators out there that are short equities, and should the S&P push up to the 1075 strike, and 1100 strike, you are gonna see some big time FIREWORKS with "collars" being triggered which could lead to the ultimate capitulation by the Bears.
In the meantime, I agree with "InandLong".
I'll keep it SIMPLE and let the market tell me what it wants to do!
Besides, how much better can the economic news get going forward, especially in light of the extremely positive announcements the past 10 days?
However, there is one caveat.
I'm hearing that there are some HUGE asset-allocators out there that are short equities, and should the S&P push up to the 1075 strike, and 1100 strike, you are gonna see some big time FIREWORKS with "collars" being triggered which could lead to the ultimate capitulation by the Bears.
In the meantime, I agree with "InandLong".
I'll keep it SIMPLE and let the market tell me what it wants to do!
Quote from waggie945:
Me thinks the market is getting a bit "tired" here and that we could see a decent sell-off starting next week.
Besides, how much better can the economic news get going forward, especially in light of the extremely positive announcements the past 10 days?
However, there is one caveat.
I'm hearing that there are some HUGE asset-allocators out there that are short equities, and should the S&P push up to the 1075 strike, and 1100 strike, you are gonna see some big time FIREWORKS with "collars" being triggered which could lead to the ultimate capitulation by the Bears.
In the meantime, I agree with "InandLong".
I'll keep it SIMPLE and let the market tell me what it wants to do!
you sound alot like dbphoenix.
Here is the monthly S&P500 chart, closing prices only. This chart isn't as busy as some I have seen, but it is busier than I prefer. Nevertheless, it has some interesting landmarks that are worth noting.
The Fib Retracement is nearly at the first significant level. Also note that major moving averages are at the first two significant fib levels. Aye chihuahua! And we are entering an area we last saw about 18 mos ago, where a pretty good battle occurred for almost a year.
And all just in time for the major holiday season when everyone just wants to be skiing and spending time with family and friends, and football, hockey and basketball are in full swing.
The Fib Retracement is nearly at the first significant level. Also note that major moving averages are at the first two significant fib levels. Aye chihuahua! And we are entering an area we last saw about 18 mos ago, where a pretty good battle occurred for almost a year.
And all just in time for the major holiday season when everyone just wants to be skiing and spending time with family and friends, and football, hockey and basketball are in full swing.
Quote from inandlong:
Here is the monthly S&P500 chart, closing prices only. This chart isn't as busy as some I have seen, but it is busier than I prefer. Nevertheless, it has some interesting landmarks that are worth noting.
The Fib Retracement is nearly at the first significant level. Also note that major moving averages are at the first two significant fib levels. Aye chihuahua! And we are entering an area we last saw about 18 mos ago, where a pretty good battle occurred for almost a year.
And all just in time for the major holiday season when everyone just wants to be skiing and spending time with family and friends, and football, hockey and basketball are in full swing.
Yes, the Thanksgiving holiday always has an upward bias. Unfortunately, we are over two weeks from it. In the next two weeks (until 11/21), we have an options expiration upon us. We also have low volatility, and real complacency that I haven't seen in a while. We also have persistant excessive bullish sentiment.
Did I mention we also have a mini double top around 1060?
Heck, I'm bearish until the close on 11/21.
Quote from inandlong:
Here is the monthly S&P500 chart, closing prices only. . .
The Fib Retracement is nearly at the first significant level.
I am not a fib trader but it sure seems weird to me to use monthly closing prices in association with Fib retracements. Even using closing prices at all as opposed to the lowest\highest seems weird, but monthly? Huh?
What is wrong with using actual extremes?
http://www.elitetrader.com/vb/showthread.php?s=&threadid=23411
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