S&P 500 looking very toppy

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Romeo I agree with your double top assesment and am positioned to reap significant returns should it transpire but it hasn't been proved just yet. Your need to congratulate yourself aside you might at least wait until the market confirms your prediction.

IF you are right I am sure people will be only too happy to give you props, but a doube top is still in question at this point.
 
Quote from Mvic:

Romeo I agree with your double top assesment and am positioned to reap significant returns should it transpire but it hasn't been proved just yet. Your need to congratulate yourself aside you might at least wait until the market confirms your prediction.

IF you are right I am sure people will be only too happy to give you props, but a doube top is still in question at this point.
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And that's exactly why I'm pointing this out AHEAD of time. I don't give predictions after the fact. I'm saying it's a double top, and i'm saying it EARLY. This way, my prognosis has been registered in advance of the money making process.
 
Quote from Romeo:

Whoever started this thread looks to have made a pretty accurate prediction!

And I have Inandlong to thank for allowing me the freedom of expression.
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You have only yourself to thank Romeo. This is a fun thread.

We all know we will do what the market tells us, but if it is sending signals, giving clues, etc., and we can accurately read them, all the better.
 
Only thing holding it up is too many "wise guy" shorts, who think the money is easy, and a crash is coming. Once these weak handed shorts run like a chicken and cover their short positions, then the market can decline.

I look for an absolute top price of 1025.
 
If it even gets near 110 again it isn't a doube top and if it breaks 115 then forget about it we are are not coming back down any time soon. Like I said, don't count your chickens.

 
Sure looks like a double-top to me, indicating a correction in the offing.
However, considering 2 years worth of monetary stimulus and the fact that the second fiscal stimulus has just started clicking in, the magnitude of the correction may not be substantial.
Technical analysis has never been claimed as a predictor of events. only as indicator of probable trend.
Good posts in the thread!
 
I think this thread just made history.

Look at the above 2 posts and posters. What are the chances of getting two firsts in a row? Long. This thread is blessed!
 
Unlikely that this is a top. Look at the price and volume. We're hitting a bit of resistance around the 9200-9400 level but as long as we don't get any high volume sell-offs it will hold. Trust me.
 
Not a double top, but rather a double bottom, with a strong divergence in the MACD and the Stochastic. Could be a strong move up.

Have a look.


Weekly bouncing off double bottom also.
 

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