Why? He is not stopped out yet
The S&P 500 has topped at 2430 on 6/1/17
- Thread starter volente_00
- Start date
Why? He is not stopped out yet
Monsieur voulavante strangely quiet
He booked a sunset cruise with champagne....
I guess technically not. I just don't like when we are doing range calls, specially not a 22 points wide. The top is either in or not. This top was already surpassed, so....
In fairness, he did call 2452 over a month ago. 2450 isn't a particularly bold prediction, but he was 40+ days out on a very specific inflection point. And going forward there are sky high earnings expectations, a few misses could sorely punish the S&P.
Either way, we're due for a move. And there's a lot of opportunities for a spark.
Either way, we're due for a move. And there's a lot of opportunities for a spark.
May have to get to aug/sept before we get a major move down due to low summer algo games
Can't win if you don't bet
Monsignor volente, live, volente, live, live for the dying ones before you - Death is an occupational hazard but highly overrated
(1)
S&P Slope in degrees for segments of rally on weekly from 2009 low
62, 40, 26, 20, 28
The steeper slope of last climb should have alerted you to the magnificence and munificence of this Master Bull.
(2)
>>>>> it Is only up 1.7% in 4.5 months <<<<<<
Consolidation = gathering reserves of power as it gets ready to tackle overhead resistance. Normal in a bull and bear markets
(3)
Go to weekly S&P:
Put a horizontal line under 3/32017. Now notice how nicely this support is working. This is normal TREND MECHANICS behavior.
Like I said, no indication of weakness has been given thus far, therefore stay LONG
Cheers
As a contrarian trader the downside risk is to great to me to favor long. I buy when there is blood in the streets.
Of course you come out of the shadows after I defend your prediction the moment the S&P sets a new high.
