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
I use a self made algorithim that uses movement in price vs. volume. No resistance or support.

The indicator is a short term, a day by day indicator that resets to 0 everyday and it "predicts" out by one day.

Now as for being right or wrong... I use it as a filter for my ES trading. Its accurate to 70%. The problem is knowing which way the market will go...
 
I'm am not top or rally calling here, but just what to throw some things out there to consider. I looked at my screens @ about noon and figured the mkt was flattish. Spooz up 8 naz +15 and dow +60. Besides the pharmas, listed look flat to down, and the 4 letter spec stocks were raging. The a/d line is flattish and volume is ok, but not great. The path of least resistance is higher, but where is the next catalsyt? Rates are going higher, there is inflation in the system and, and its almost august. I will be selling the world come mid august, early? probably. But this will be an investment short, not a trade. Bring on the flamage
 
The S&P broke through its March resistance several days ago and yet the breakout is still intact. That to me at least means either flat markets or bullish markets, but not a top. After all, if the S&P were destined to be back in its old trading range, I would think it would be there by now.

Great thread, btw!:)
 
This gap here as of 8:30 could be... i know its rather small but it could be an exhaustion gap.

So the probability of the gap closing immediatly is very high... after that oil has to take a stand for this to drop.

If not oil than I think the markets will take their ques from european and climb higher.

Regardless, I expect a breakout, or breakdown, today!

Good luck all
 
Quote from EqtTrdr:

so did the SPX get thru 1225 yet?

Im confused

It went thru it but not fast enough?


thanks
More...

i'm confused

If the S&P made a high of 1230, and I called the top "around 1225", would you have considered me wrong? how bout if it topped at 1220? at 1235?
In other words, do I have to nail it to the exact penny to be correct?

Am I stuck forever to my prediction on 6/25?

thanks
 
Quote from rubberbird:

i'm confused

If the S&P made a high of 1230, and I called the top "around 1225", would you have considered me wrong? how bout if it topped at 1220? at 1235?
In other words, do I have to nail it to the exact penny to be correct?

Am I stuck forever to my prediction on 6/25?

thanks
More...


sorry bro, post wasnt meant to be argumentative... just a question..

You always right on your calls $$ rock on !


Greenie says up though
http://www.newyorkfed.org/markets/omo/dmm/temp.cfm
 
Quote from EqtTrdr:

sorry bro, post wasnt meant to be argumentative... just a question..

You always right on your calls $$ rock on !
More...

no problem, amigo, arguments and healthy confrontation are always good in this market and on this thread! This quote may help ya:

Quote from Mvic:

RB is writing calls, he has some built in lee way.
More...
 
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