Next Target for S&P500 --> 1120,00

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Quote from Apex Capital:

Interesting, but perhaps too simplistic.

Where you have labeled the A-Wave down, many have that as being the low for Wave 2 after Wave 1 terminated in March of this year, up from the 1060'ish lows of August of 2004 . . .

In otherwords, on a Daily Chart we are currently in Wave 5 of 1 of (3), especially if we close above 1229.11 on the Weekly Chart.

If you look at the pattern off of the April lows of this year, you see a clear 1-2, 1,2,3,4, and 5 in progress from the low of Wave (2) back in mid-April.
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Just as a reminder, this was YOUR post calling for the Market to shoot to the moon two days after mine.
 
Quote from Charlie Dow:

yup, I said that. Out of context but I said that. What's your point?
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I can help you out here Charlie, this is exactly his point. That is, to take words and phrases out of context in an effort to prove that he is the only lithium addicted, knowledgable trader on ET. He is the only lithium addicted trader, yes. Knowledgable, no.
 
Im entered now a short position on ES at 1214.25. I pretend to hold this in a mid term basis. My target still the same. We are going back to 1120.

I will keep my day trading work and just add this position to my portfolio.

See you down there.

Chapa!
 
Quote from chapabranca:

Im entered now a short position on ES at 1214.25. I pretend to hold this in a mid term basis. My target still the same. We are going back to 1120.

I will keep my day trading work and just add this position to my portfolio.

See you down there.

Chapa!
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At the time of your post and trade, the ES at micro, macro and swing levels were all at High Tide. Personal opinion, it will stay in that direction until it breaks.

I try to make light of situations like this. "Picking Tops & Bottoms with give you either green or smelly fingers."
 
Quote from chapabranca:

Im entered now a short position on ES at 1214.25. I pretend to hold this in a mid term basis. My target still the same. We are going back to 1120.
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Don't fight the machines today -- they always win. :D
 
Quote from PoundTheRock:

Don't fight the machines today -- they always win. :D
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Its a mid term trade :). Im not worried about a few points. I want to catch the larger trend.

In my analysis, today or monday will be the top.
 
My god the last hour it seems like people buying into the short sellers still. The S&P looks like it wants to drop but in never does. My head is killing me looking at this chart. Just do something already
 
Quote from chapabranca:

Its a mid term trade :). Im not worried about a few points. I want to catch the larger trend.

In my analysis, today or monday will be the top.
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I think that's accurate. In the larger scheme, the reaction to the London terror is very interesting -- some seem to dismiss it as a one-off event, but I would not underestimate the impact a series of relatively "small" attacks can have upon an economy. When you have an idiot like Larry Kudlow suggest that the attack reflected a weakened Al Qaeda, start worrying.
 
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