The S&P 500 has topped at 2430 on 6/1/17

The S&P 500 has topped at 2430 or is within 22 points of topping

  • Yes your are correct

    Votes: 14 41.2%

  • Hell no you just got lucky last time and are still smoking crack

    Votes: 20 58.8%
  • Total voters
    34
Is there something I'm missing? Everything I see on individual stocks is bullish as hell. The only things that give me pause are the bearish financials, and the tech stocks pushing the bollingers or the MA. And the financial stocks on my radar don't seem to be following the sector. The tech stocks at the top of their bands look as much like breakouts as reversals, and those pushing through their moving averages are looking bullish.

Of my 54 symbol long radar, JPM, MS, SNAP, and AA are the only ones down today--JPM and MS are addressed above, SNAP doesn't warrant further discussion, and AA is a basic materials stock that often moves against the trend.

Damn...I just talked myself into a SPX put debit spread!
 
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propwarrior said:
no you are not missing anything there is no reason to be short apart from sky fairy technical reasons that retail traders use to enter.
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I got a unicorn fill this morning (across the mid-point--literally .22 above limit on a .30 spread), maybe I should be listening to sky fairies.
 
What's interesting is for such a bull market like you guys are claiming it Is only up 1.7% in 4.5 months over my first top call at 2400 which is why this is a call sellers dream right now. Sure it may grind higher but the performance is just not there because the bull is tired. And don't say I didn't warn you when we correct 10-14%.
 
volente_00 said:
What's interesting is for such a bull market like you guys are claiming it Is only up 1.7% in 4.5 months over my first top call at 2400 which is why this is a call sellers dream right now. Sure it may grind higher but the performance is just not there because the bull is tired. And don't say I didn't warn you when we correct 10-14%.
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I agree with you. But I think once a big correction gets underway, which basically would be the correction from the "Trump" run up... look out cause I think it could gain alot of momentum and be like a 20% or more correction... This market is so sensitive to any little thing to go lower. A terrorist action, scandal, war, etc... Hell Trumps son sent us big time lower just talking about emails.
 
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