S&P 500 looking very toppy

[Romeo]

Quote from theShadow:

this morning.

What type of correction you looking for?

 

[xtrader]

Look at SBC VZ

Also CSCO retraction about sales growth. Nothing new to announce.

Communication requirements are basic for any new/expanding business environment.

Without any indication in communication, there is no proof of recovery.

Just another thought to add to the overbought mentality.

 

[BudFoxx]

I think we have room to hit the upper channel at nasdaq 1800-1775..

regardless we're very extended and days away from falling..

 

[Romeo]

Quote from BudFoxx:

I think we have room to hit the upper channel at nasdaq 1800-1775..

regardless we're very extended and days away from falling..

Forget about the "upper channel". Won't be seeing that.

We are extended, and day to day from falling.

 

[Romeo]

Quote from Kap:

doubt it yet , I smelll buyers all over the place lower down

These "buyers" aren't voting on the above poll, though.

 

[Breakout]

I don't usually try to make long term predictions, but I just happened to notice that there was a nice Trader-Vic 1-2-3 pattern
forming on the daily. Maybe a change of trend shortly?

 

[volkl151]

As I posted on Derrik Hobb's Amgn Thread earlier. I agree that the SPX is topping....

 

[volkl151]

Yet another. We have price and time symmetry. Correct, Derrik?

 

[Mvic]

Perhaps the recent Bond sell off is why sentiment is changing(if it infact is), second half recovery not as certain?

http://news.ft.com/servlet/ContentS...y&c=StoryFT&cid=1057562262003&p=1012571727088

 

[Romeo]

Quote from Romeo:



Forget about the "upper channel". Won't be seeing that.

We are extended, and day to day from falling.

I will. Nice call, Romeo!!

Redd Foxx was calling for some more COMPX upside to 1775-1800, and Romeo told him to "fuggit about it!"