I'm Short here....

Quote from lindq:

So you're going to look at a daily chart of the S&P and tell me what? That it is in a downtrend?

There is absolutely NOTHING in that chart to suggest that we are ready for a major correction. Further, I suggest there is nothing in the economy, there is nothing politically, there is nothing internationally, there is nothing technically. Absolutely everything is aligned to suggest continued strength. Certainly, a few days of weakness can come up, and I personally hope they do so I can get in a few trades. But anything more is very unlikely in the near term.
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ok... here is a question to all you bulls out there. (Today no doubt was an trendy/easy day to make money on the short side. I had no problem riding 30 NQ ticks down today.)

So tell me guys.. how in the world would you even have made 10 ticks on the NQ today going long?

with this said, I simply don't understand why guys that called tops today (and being correct) are being bashed for calling a very wise shot early this morning? Didn't the facts proof everything already?
 
Quote from Momento:

ok... here is a question to all you bulls out there. (Today no doubt was an trendy/easy day to make money on the short side. I had no problem riding 30 NQ ticks down today.)

So tell me guys.. how in the world would you even have made 10 ticks on the NQ today going long?

with this said, I simply don't understand why guys that called tops today (and being correct) are being bashed for calling a very wise shot early this morning? Didn't the facts proof everything already?
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The time frame of these (and other threads) talking about top calling and the bull trend is higher than just one day; when these guys call a top, they mean the top of the bull market. I myself was short ES/long ZN most of the day today, it doesn't mean that I think we've reached a top...
 
Quote from waggie945:

Closes above 1146.00, the trend is still up.

Until then, we are simply retracing 50% of yesterday's move.
No big deal.

:)
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Well it didn't close above 1146 but I dont think that it signals any big move down - however I dont really care since I am neutral going into tomorrows session. Amazon posted good numbers after the close so it will be interesting to see how that is interpreted - may have no effect though except to further sell off amazon shares.
 
A close below 1146.00 in the SPX is tipping the market toward the Bears, with the 1135.50 March Futures low of last Friday a key level that the Bull must reassert itself at.

Until then, AMZN is trading down $2.83 in afterhours.
S&P March futures on Globex: Unchanged
 
Quote from waggie945:

A close below 1146.00 in the SPX is tipping the market toward the Bears, with the 1135.50 March Futures low of last Friday a key level that the Bull must reassert itself at.

Until then, AMZN is trading down $2.83 in afterhours.
S&P March futures on Globex: Unchanged
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Today brought volume accumulation on all major indices (except nas) to the bottom of their channels.
QQQ -50 million
DJIA -10 million
SPY -30 million

Seems like a good buying opportunity to me, adding to my calls
 
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