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
punisher said:
I believe the true big money is made by having cojones to step in front of the freight train (with proper size/money management). Picking tops is not swing trading.

I believe the only thing that is holding this market that high (and possibly higher) is the still continuing shift into passive management. So as the money keeps flowing in there will be simple reaction: buy underlying assets. Algos are price agnostic. Notice that a lot people are scratching their heads regarding current prices. Less and less are inclined to buy into this market, but they do so inadvertently by shifting into passive management.

Where that leads? One day/event when enough funds say it's enough what you are going to see is a huge gap down and as little panic ensues, the withdrawals from passive vehicles will fuel selloff further. And instead of having orderly pullback, you may get a mini (or bigger) flash crash because the market will become one sided.
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FALSE
 
SPX06152017.png
You guys aren't *seriously* expecting a drop, are you?

This is a stair-step market, and has been for many months. (Since August'15's China re-val.) Without a change in fundamentals, ........

Clue-Phone ringing. Pick up, please.
 
JSSPMK said:
Potential double bottom in Naz, sorry Vol, on this occasion I'm on the other side.
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"Sorry vol" -- volume? If it's volume, it won't hold. It means that while there are sellers, there are not buyers. This is smarter money waiting to buy-on-the-dip, not scared money looking to exit. If you see volume pop, Woof! Be watching that! If you're short right now? Time to cover. If we cross NDX 5600 this week, or 5500 next week, my finger will be on the Buy-to-enter button. (I'd love to see 5000 again, but..... but that's just greed.)
 
tommcginnis said:
"Sorry vol" -- volume? If it's volume, it won't hold. It means that while there are sellers, there are not buyers. This is smarter money waiting to buy-on-the-dip, not scared money looking to exit. If you see volume pop, Woof! Be watching that! If you're short right now? Time to cover. If we cross NDX 5600 this week, or 5500 next week, my finger will be on the Buy-to-enter button. (I'd love to see 5000 again, but..... but that's just greed.)
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He's talking to Volente
 
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