Is S&P forming intermediate term double top?

[fly down]

The high in April was 1219.8

It is my belief that the S&P is forming an intermediate term double top around 1220. This does not mean it will not go abit higher than 1220. I think the formation now is in the process of forming a top.

So should zig zag abit around 1220 as the top forms.

 

[tradingjournals]

How does a breakout look like before the breakout?

 

[Nine_Ender]

Quote from fly down:

The high in April was 1219.8

It is my belief that the S&P is forming an intermediate term double top around 1220. This does not mean it will not go abit higher than 1220. I think the formation now is in the process of forming a top.

So should zig zag abit around 1220 as the top forms.

Quit posting this crappy analysis masquerading as technicals. As I told you before, you don't have a clue how to read a chart. Here's some news for you; you can't call "double tops" before they are established.

You've called around a dozen tops in two months. It's getting really, really stupid buddy. Yes, if you call a top every few days eventually you'll get a top. Then you claim a 10% success rate predicting tops I guess.

You've been thoroughly owned. You claimed the S&P 500 was going to 1000 in short order from 1103, when in fact it went to 1220. That's a 22% miss on an index; that's brutal.

Please stop posting this crap. It's embarrassing.

 

[LEAPup]

Here's the thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=209762

(I'm still long though)

 

[Cherrypicker]

It's a bull market.

 

[Now is Now]

Quote from Cherrypicker:

It's a bull market.

I wouldn't know the difference between a bull market and bull shit other than the fact they both have the same first 4 letters...last time someone said that was September 1987...comedian , passed away, named King...and what happened....

Incidently, I agree with him.....too late to tell him though...


NiN

 

[fly down]

I know i'm right this time the poll says so

 

[failed_trad3r]

no.

your call will fail.

then when the S&P at 1500 you'll call a triple top. You'll fail again. Then the S&P goes to 2000

 

[S2007S]

150,000 jobs added to the economy!!!

Economy needs a minimum of 250k jobs a month for the next 5 years or so to get get the unemployment rate back below 5%, 150k jobs just absorbs the new labor force into the economy.

QE3 is coming next week!

 

[S2007S]

Out of 13 sessions the nasdaq is up 12!!!!!!!!!!!!

:eek:


Absolutely no stopping this rally.