S&P 500 looking very toppy

[Apex Capital]

So far, this is looking like it will be the first close since July 6th that the S&P Futures will close below the 10-day MA, currently at 1239.80 - - - Still plenty of time in the session though.

Should the S&P not be able to hold that level on a closing basis, the next stop would be 1232.55

 

[syrre]

I just felt it was a fair price. We´ll find out at the end of the day.

 

[PitchBlack]

Quote from syrre:

I just felt it was a fair price. We´ll find out at the end of the day.

Just got out of my short.

 

[syrre]

Ok. I think theres more upside than downside for the rest of the day. Now I´ll have my pizza.

 

[PitchBlack]

Quote from syrre:

Ok. I think theres more upside than downside for the rest of the day. Now I´ll have my pizza.

I don't think the short is over, but i prefer taking five points in the actual market. 5 points is a lot of money; especially on my 25 million dollar account.

 

[Mvic]

FWIW I was stopped out of my long for $4k loss.

 

[Xenia]

Very ugly market today ...

Not enough traders who buy the dips ...

 

[Charlie Dow]

Quote from Xenia:

Very ugly market today ...

Not enough traders who buy the dips ...

but plenty of dips buying the bottoms at this point. Market looks fine to me. It's all a matter of what one watches.

 

[easyrider]

Quote from Charlie Dow:

but plenty of dips buying the bottoms at this point. Market looks fine to me. It's all a matter of what one watches.

Agree. Fine day as far as Im concerned. Where we going from here Charlie?

 

[Charlie Dow]

Quote from easyrider:

Agree. Fine day as far as Im concerned. Where we going from here Charlie?

I'm still looking for 1235.75 or better.