S&P 500 looking very toppy

Is the S&P 500 about out of gas?

  • Yes, rubberbird is usually correct

    Votes: 67 33.3%

  • No, there's more upside ahead

    Votes: 46 22.9%

  • I don't know/ I don't care/ the bird is an idiot

    Votes: 88 43.8%
  • Total voters
    201
Don't know if RB is still on the toppy side but I am short here (50 ES @1226.50) looking for at least 15 points and will be stopped just above 1230.
 
Quote from Mvic:

Don't know if RB is still on the toppy side but I am short here (50 ES @1226.50) looking for at least 15 points and will be stopped just above 1230.
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until proven otherwise, 1225 is an intermediate term top.
 
Quote from Mvic:

Don't know if RB is still on the toppy side but I am short here (50 ES @1226.50) looking for at least 15 points and will be stopped just above 1230.
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I think you will be stopped, and that might happen much faster than you think.
Today we will climb till the close probably, so even the intraday trend is long.

Why do so many traders always want to go opposite to the trend?
 
Look at TOL if you’re thinking short. The 15 minute chart looks like a nice head and shoulders. Am I right? I am not great with charts so if I am wrong tell me.
 
Quote from spike500:

Why do so many traders always want to go opposite to the trend?
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Spike, last time I checked, anyone thinking down was in a minority.

Anyway, what's that I smell?? At around 12:35pm ET (was that a walther trading time?), I smell a daily TOP!!.

Bird is the word.
 
For what it's worth, the Russell 2000 moved to an all-time high yesterday, which makes me think the market will continue to trend higher.
 
Quote from QQQShort:

For what it's worth, the Russell 2000 moved to an all-time high yesterday, which makes me think the market will continue to trend higher.
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The Russell 2000 has a mind of its own. It will have its reckoning day. I guarantee it. Don't be confused that the Russell is an indicator of broad market sentiment. It isn't.

Does anyone else smell the intra-day top the Bird is seeing??
 
Quote from rubberbird:

Don't be confused that the Russell is an indicator of broad market sentiment. It isn't.
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Your not serious are you? You don't think that small cap companies are much more in tune with underlying economic/business conditions? Your experience is showing...

You may well be a great SPX top//bottom picker..I don't know....but this statement is just plain wrong.
 
Quote from SWScapital:

Your not serious are you? You don't think that small cap companies are much more in tune with underlying economic/business conditions? Your experience is showing...

You may well be a great SPX top//bottom picker..I don't know....but this statement is just plain wrong.
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He comes off as a dick. Hey maybe he is a dick but he makes great short term calls. I was one of his biggest haters. He has a good understand of the markets.
 
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