Is SPY due for a Pullback?

Quote from OTCkrak:

im long puts on a few indicies.. looking for 4%-6% move down
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169.27 - 4% = 162.50
169.27 - 6% = 159.11

Those levels work for me.
Now we just need some unexpected "bad news" for a catalyst...
 

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Quote from viktor_k67:

volatility is to low at this moment to be worried about any strong decline/correction.
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That doesn't make any sense. Periods of low volatility are a red flag for a coming period of high volatility.
 
SPY either "melting up" or going sideways for the entire month of July.
What kind of news do we need for a nice 4%-6% drop?

169.86 - 4% = 163.07
169.86 - 6% = 159.67
 

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Not brave enough to give targets but the market is 2007 octoberish and august is a fairly typical pullback month.
 
market has to, IMO, get under 1560 for me to think about selling all rallies. maybe this is a head of another H&S.....who knows. and then that doesn't mean weakness. like plenty of other traders, I used to try to pick tops; however, years ago I realized there is so much more money on the long side. since the game is likely manipulated, i'm sure they are going to manipulate it higher. with that said, under 1560 and then I hope under 1400 and then under 1200 and then 1000 and then 800 and everyone cries.....then, in 10-years, dow 1 million.
 
Quote from cactiman:

$SPX at 1685, with 1680 Support and 1700 Resistance.
What will come first?
1660 or 1710?
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Well, with study of 10 year;
study of 1 year + 7 year candles/candlecharts.

Looks like an very old uptrend;
very extended.Price + volume study of same favors the bears or sideways slop.

Sell in May + go away worked well;
especially risk/reward wise.Trying to take the last penny out of any uptrend or downtrend can be costly. Sure it may go higher late in year/seasonals.

The reason some traders hate uptrends is they never figure out risk reward, or seasonals., or read Mr yale hirsch almanac

Wisdom is profitable to direct.:cool:
 
[Update]

SPY (November 16, 2012 - August 1, 2013) Uptrend:

23 day Rally: 132.46 to 143.16 = +8.08%
8 day Pullback: 143.16 to 138.19 = -3.47%

34 day Rally: 138.19 to 151.80 = +9.85%
6 day Pullback: 151.80 to 147.29 = -2.97%

32 day Rally: 147.29 to 158.87 = +7.86%
6 day Pullback: 158.87 to 152.74 = -3.86%

25 day Rally: 152.74 to 168.18 = +10.11%
23 day Pullback: 168.18 to 155.73 = -7.40%

28 day Rally: 155.73 to 170.81 = +9.68%
Pullback??
 

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