SPX Has Topped For The Year Or Pabst Will Leave ET

Quote from ByLoSellHi:

So, I am hearing sensible people saying we're entering a long-term, secular bear market, right?

I've been hearing and reading this opinion more and more lately, and from a wide array of respectable gurus.

I still say no one can predict the future of the markets. It's not possible.

But I appreciate the perspectives.
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My call isn't a "prediction" but rather a response to a unique technical situation. I could just as well wind up long if my resistance areas are penetrated. My best "guess" though, is we don't see SPX trade above 1349.

On the other hand I'm QUITE worried at how many share my bearishness. My sell signal is powerful enough that I'm ignoring sentiment as best I can but if based on sentiment alone I'd be afraid to be short.
 
Quote from Pabst:

My call isn't a "prediction" but rather a response to a unique technical situation. I could just as well wind up long if my resistance areas are penetrated. My best "guess" though, is we don't see SPX trade above 1349.

On the other hand I'm QUITE worried at how many share my bearishness. My sell signal is powerful enough that I'm ignoring sentiment as best I can but if based on sentiment alone I'd be afraid to be short.
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Making a call for a top is certainly a bald decision, respect. I would only attempt to allow a bearish bearish sentiment in my decision making once we start breaking low horizontal of the monthly channel. I personally think that would be a lot safer and by that time it would be a lot more difficult to hold back sellers.
 
Quote from BrandNewTrader:

This is just s suckers rally to let the big longs make their exits and reduce their exposure. Right now, the talking heads on cnbc and other forms of media (mags, etc) are pumping the market, all time dow highs. Public doesn't care that Dow highs are attributable to a minority of the stocks in that index, or that the index is weighted. Ever thought about how easy it is to manipulate the Dow? Look at the numbers less than half of the stocks are actually near their highs. The numbers are pretty blatant.
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Have to agree with this artificial run up in the dow. small/mid caps are getting slammed.
 
More rotation out of QM and other oil relateds. Patience.

With oil now off 25% from highs and SIFs at all time highs, what do you think the odds of the FED cutting now are? Exactly... Watch ZN and particularly ZT and ZF catch up. Look at Eurodollar futures...

nitro
 
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