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
Quote from spike500:

I must throw in the towel; i will never be able to adapt myself to the market as you do: first the top is 1225 for the coming months, then it becomes 1230, then it becomes 1200-1205, then it's again 1205, again 1225 and even when we did 1233 it was still short.
I'm not that flexible.

But for the last seven trading days we are constantly above the previous high that was build around 06/20. To me that's rather bullish in stead of bearish. But what i think is probably not logical.
It becomes more and more clear that i will never make money.
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I'll say this to you one time son, stay off the drugs.
 
If my counts are correct this current upward correction is going to end next week. The 27th is a good Fibonacci cycle number although this is a all-inclusive (I don't think the weekends mean people take time out from their emotions). At 1253 the SPX would claw out 61.8% of the Altime high to Oct 02 low. The pattern todate is clearly corrective.

I say, is that a bear bounce in yer pocket ? :p
 
Quote from Gaucho MM1:

If my counts are correct this current upward correction is going to end next week. The 27th is a good Fibonacci cycle number although this is a all-inclusive (I don't think the weekends mean people take time out from their emotions). At 1253 the SPX would claw out 61.8% of the Altime high to Oct 02 low. The pattern todate is clearly corrective.

I say, is that a bear bounce in yer pocket ? :p
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Gaucho, make sure you stick exactly to what you said here. No matter how much market conditions may change, you are locked into your words. You have no room to be flexible, you cannot adapt your idea, what you said is now etched in ET stone.
 
Sure erm Rubber person...you bend and I'll be rigid ok.

I am still short the SPX at 1225 (3% of account) and currently just gone long DJIND at 16 set a sell at 50 (cfd)
 
I have posted a few charts at T2W site which I ma satisfied are good as far as my outlook goes. The current divergence of patterns (SPX higher counter-trend bounce whereas the DJIND is a lower high) is a very bearish signal in my view.
 
Advances 1635 (49%)
Declines 1493 (44%)
Up Vol* 488 (45%)
Down Vol* 575 (53%)

That was the scene whe the DJIND was -36 so corrective pattern up was looking fairly good for this type of straddle play.

Am out at 50 although I'd say we'll see a break of the 10660 mark this week.
 
Quote from areyoukidding?:

Can you send me some of that?
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Sure,
Send me your creditcard numbers.

I have different portions:

250$ for a trip that makes a 5 point rise

500$ for a trip that makes a 10 point rise

1000$ for a trip that makes a 10 point rise after a10 points drop. Sensational.

If ever the trip would exceed what you paid for, you will get an additional bill.
 
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