S&P 500 looking very toppy

hollywood · Jul 28, 2003

The indicies have been driven to these dizzying heights because most of the surplus cash in the economic system is going into housing and the securities market.Notice that these two investment vehicles are the strongest sectors over the last 18 months.Excess liquidity , has created a disproportionate imbalance in both securities and housing markets.Should both these markets correct in sync. ,the last three years may seem tame in comparison.

Romeo · Jul 28, 2003

Quote from Sardo_Numspa:

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.

and...

Quote from VisionTrader:

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.

and I know we're getting closer to the top.
My guess is next week we will see it.

Romeo · Jul 29, 2003

Quote from Romeo:

and...

and I know we're getting closer to the top.
My guess is next week we will see it.

Like I said, a few more bullish calls, and the S&P looks toppy to me.

Romeo · Jul 31, 2003

I know what I'm talking about. Dammit!

Everyone seemed bullish today on CNBC, but no ole Romeo.

Romeo says the S&P is looking toppy!!!

GreenDog · Jul 31, 2003

You sound like a refugee from the Yahoo boards!

Mvic · Jul 31, 2003

You were looking for a new high of 1025? I know we need to be flexible as traders but switching your prediction and then harkening back to the first one when the market swings that way doesn't do allot for your credibility.

Romeo · Jul 31, 2003

Quote from Mvic:

You were looking for a new high of 1025? I know we need to be flexible as traders but switching your prediction and then harkening back to the first one when the market swings that way doesn't do allot for your credibility.

DO NOT MISQUOTE ME! I said we could see a maximum top of 1025, and we got to about 1005 today. Read my 1st post in this thread. Heck read ALL my posts in this thread, I've been very consistent, dude.

And the word is "alot". Not knowing how to spell doesn't do much for your credibility.

Romeo · Jul 31, 2003

Quote from Romeo:

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.

This was misconstrued by you as what, dude?

Romeo · Jul 31, 2003

Quote from GreenDog:

You sound like a refugee from the Yahoo boards!

You sound alittle like Tom Petty.

Mvic · Jul 31, 2003

I am not in search of credibility on this board as you clearly are.

1025 does not jive with a double top, at least not what passes for a double top in my view.

For your edification it is "a lot" (you assumed that I wrote allot due to ignorance, your assumption was erroneous). Alot is not a word.

Ironically, I still see a double top.

Quote from Romeo:

DO NOT MISQUOTE ME! I said we could see a maximum top of 1025, and we got to about 1005 today. Read my 1st post in this thread. Heck read ALL my posts in this thread, I've been very consistent, dude.

And the word is "alot". Not knowing how to spell doesn't do much for your credibility.