S&P 500 very close to intermediate term top

[polpolik]

Quote from ghostzapper:

The "call" is that the S&P 500 is very close to topping out. That's the call. How is the premise that the S&P 500 is very close to topping out wrong based only on what happened today ??

How do you define close in terms of time and points?

1 day? 1 month? 6 months? if it crashes in 2 months, will you claim to have accurately predicted it?

 

[ghostzapper]

Quote from polpolik:

How do you define close in terms of time and points?

1 day? 1 month? 6 months? if it crashes in 2 months, will you claim to have accurately predicted it?

Within 1 month, and the upper parameter is that it stalls out at the old highs of 2000.

 

[ghostzapper]

Quote from ghostzapper:

Within 1 month, and the upper parameter is that it stalls out at the old highs of 2000.

I'm going to bump up the time to the next few weeks !

 

[ghostzapper]

Quote from EqtTrdr:

....................and once again Rubberbird is a perfect fade!!

I think your post marked the exact top for today and possibly the intermediate term top i'm looking for !

 

[myminitrading]

Quote from ghostzapper:

The "call" is that the S&P 500 is very close to topping out. That's the call. How is the premise that the S&P 500 is very close to topping out wrong based only on what happened today ??

If their were no such thing as the sp futures I would agree with you. Its just to easy to float the futures up overnight, then we gap open and the fund managers sell to johnny come lately.

Sit up one night and watch how the offers get pulled and up up up we go.

 

[ghostzapper]

Quote from swinger:

Care to elaborate on the technical indicators that signal a top to you?

technical a/d erosiion, high bull sentiment, previous highs of 1520 in 2000 setting up double top formation

 

[makloda]

Quote from ghostzapper:
technical a/d erosiion, high bull sentiment, previous highs of 1520 in 2000 setting up double top formation

LMAO!!!!!!!!! Classic!!!!

 

[myminitrading]

Quote from myminitrading:

If their were no such thing as the sp futures I would agree with you. Its just to easy to float the futures up overnight, then we gap open and the fund managers sell to johnny come lately.

Sit up one night and watch how the offers get pulled and up up up we go.

See what I mean!

 

[myminitrading]

It may get goosed a little higher after the crude inventories, we all know they will show plenty of inventory. Equities will push higher then the funds will start unloading at nice price levels, thanks to the wonderful futures, the perfect tool for manipulation.

 

[Dr.Greenback]

Quote from michaelscott:



There is no real catalyst for the market to turn down. Last year it was a host of catalysts to include:

- Bernanke
- Iran/Iraq and oil
- Housing crash
- recession thinking
- etc, u know the rest

CATALYSTS! What has changed since last year? The Fed is ALWAYS an issue, and how can you have an oil market without Iran/Iraq Geo-politics? It's the only "THREAT" that gives instant volatility to that market, or the economy for that matter. Without it, why trade. It would be the slowest market of all.

My point is, nothing changes but the spin. The market doesn't need a "catalysts" to go ANYWHERE. Don't fall victim to those CNBC those buzzwords.

I watched everybody here and elsewhere calling for a 10% correction after the Feb. sell off. IMO, that was an instant buy signal. Once people stop looking for a top or bottom we might finally get one.