SPY TRIPLE TOP - I just bought some puts.

A lot of buying has been going on the past few weeks. The triplle top I think it is false this time, at the least for the next few weeks.

I suspect we are pushing higher to 1400....

my 2 cents ...
 
Quote from 5Pillars:

1370 area bounce number two - this area needs to hold into the close or overnight session will bring more selling. :)
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- and as I type, the ES is sitting exactly at 1370.00 - LOL! :D

Nice distribution going on above and below this level past days - buyers STILL unable to hold price above 1370 into a close. Price should break out of this area by end of day tomorrow - distribution looks about done to me. :cool:
 
Asia in the red with most indexes having lost at least 2%. Futures in the red right now for the s&p.

Sit tight as everyone heads for the fire doors.
 
I think it will pullback to 133-134 as chart suggests before a decision is made to either advance or retreat further.

Im looking for a bounce or break right around that level.
 

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Quote from VictorS:

This trade definitely had merit. The breaking of Friday's low would have been confirmation for short entry.

I don't trade SPY but I will start. Thanks for originating thread Jackstone.
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136.12 was broken yesterday. today we closed at 135.34. Hope you're cashing in Jackstone. (I'm not in).

(this thread grew since I last posted. I'll have to mark it.)
 
Quote from 5Pillars:

- and as I type, the ES is sitting exactly at 1370.00 - LOL! :D

Nice distribution going on above and below this level past days - buyers STILL unable to hold price above 1370 into a close. Price should break out of this area by end of day tomorrow - distribution looks about done to me. :cool:
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Probe lower as expected with 1370 unable to hold to this point. Pressure is clearly on the bulls as we get closer to weeks end - drift down all week could happen if no accumulation can prevail. There is a lot of shorts accumulated and holding from 1370's on up - market needs a "news" boost to keep us out of the red going forward this week.
 
Hey Jackstone fans! I love you all!!!

Im no Jack Hershey, certainly no guru, but too many were expecting this to be a breakout. My gut told me it would go the other way.

Sure it was a gamble but so are all trades. Nope, not cashing out now, because my gut tells me where this will go helped by a few key charts.

Muuahhhh!!! Love all my fans!!!
 
Ok JackStone fans and ES addicts. You guys are screaming for a chart so I'll give you one.

The VIX is increasing! Its going to 35-37 if not higher! 9/11 made the Vix scream to the 40s. Something big is coming and its coming soon. Im betting the vix will scream to 57 before turning around.

The only thing holding this market up is technicals. In this case, its a skinny old guy named Bollinger. There will be more bad news coming out over the weekend much worst then you expect. What if there is a hurricane, a terrorist attack or other disaster? The market is weak and bad things come when the market is going to hell in a handbasket.

For Christs sake, GE is on the top losers list for today. One of the largest companies in the world is having trouble. So much trouble its lost 10% of its value in one day. IN ONE DAY!

Exit your long positions. Get yourself short. I doubled down on my puts and shorts yesterday!!!

It is now time to enjoy the Jack Stone reality!
 

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