S&P 500 very close to intermediate term top

[ghostzapper]

Quote from stktrdr:

There ain't gonna be a june swoon. More like a june boon!

When the employment # is strong and int rates hit 5%, you'll all realize why I said JUNE 1st was the beginning of the end.

 

[stktrdr]

Quote from ghostzapper:

When the employment # is strong and int rates hit 5%, you'll all realize why I said JUNE 1st was the beginning of the end.

That's soooo old school. Strong economic figures are good for stocks. Bad economic figures are also good for stocks.

I wouldn't to be short stocks ahead of tomorrows figures...

 

[dealer]

Quote from stktrdr:

There ain't gonna be a june swoon. More like a june boon!

Seriously, shorts will not be vindicated until Dow falls below 13,250 and the equiv move in other indices. So even if we come off 2% bulls are still laughing to the bank. I unfortunately got in late so I will feel some pain but most others will use a dip as a buying opportunity!

Not sure where you get 13,250 from because just looking at a weekly chart of the DJ, I think the market remains bullish unless we trade below the Feb 12800 prior highs. To confirm a change in trend the DJ needs to get below the 11940 low seen in March.

Bulls do indeed have a lot of "wiggle" room while bears have a lot to prove.

 

[makloda]

Quote from ghostzapper:
Free money selling this intermediate term top

How do you make money selling a "top" when we see higher highs every day in the SP500 since you made your marvellous call

 

[EqtTrdr]

Quote from makloda:

How do you make money selling a "top" when we see higher highs every day in the SP500 since you made your marvellous call

Im still waiting for an answer to this....lol

 

[volente_00]

Quote from EqtTrdr:

Im still waiting for an answer to this....lol

He makes it by fading himself. Sell means buy !

 

[ghostzapper]

Quote from makloda:

How do you make money selling a "top" when we see higher highs every day in the SP500 since you made your marvellous call

the old fashioned way: 2/20

 

[volente_00]

Do you give 20% back for the all of the losing years since calling a top at 1140 ?

 

[volente_00]

Futures indicate a opening of 1538.

Is 1527 > 1538 ?

 

[makloda]

My condolences to everybody that is still short ES. Markets often move into the direction of maximum pain, maybe that's what we're seeing.