The S&P 500 has topped on 2/25/2019 at 2813.49

[Buy1Sell2]

Good morning to all my haterz

 

[tomorton]

I say we have topped at 2813.49 in the S&P 500 or are within 28 points of topping

I think we will pull back 5% from this level

I will consider myself wrong if we trade above 2841.13 SPX on a closing basis before a 5% pull back happens

The danger doesn't lie in whether this particular top prediction is wrong. The real danger is the attitude that calling tops and selling into a furious uptrend or calling bottoms and buying into a furious downtrend is the route to riches.

 

[volente_00]

The danger doesn't lie in whether this particular top prediction is wrong. The real danger is the attitude that calling tops and selling into a furious uptrend or calling bottoms and buying into a furious downtrend is the route to riches.

You will never buy the low following the crowd

You will never sell the high following the crowd

95% of the crowd loses


If you think being a contrarian is the route to failure then Paul Tudor Jones would like to speak with you.

 

[volente_00]

Is that your long theme song ?

Once again if you had scaled out of your long at 2812 you would have a higher net worth right now

 

[Pekelo]

The danger...

...is Volente's middle name.

 

[tomorton]

You will never buy the low following the crowd

You will never sell the high following the crowd

95% of the crowd loses


If you think being a contrarian is the route to failure then Paul Tudor Jones would like to speak with you.

You just have to select the right crowd to not follow.

I follow the money. I don't follow the mass of private retail traders who see price reaching the top right of their screen from the bottom left and think to themselves, Oh, its just too high, I must go short........

 

[Pekelo]

Looks like the market is realizing there is nothing truly new in Cohen's testimony and heading back higher.

 

[volente_00]

You just have to select the right crowd to not follow.

I follow the money. I don't follow the mass of private retail traders who see price reaching the top right of their screen from the bottom left and think to themselves, Oh, its just too high, I must go short........

So you are a chaser

Chasers eventually get burned if trading a mean reversion instrument

 

[volente_00]

Looks like the market is realizing there is nothing truly new in Cohen's testimony and heading back higher.

Filling upper open gaps is healthy in a topping market

 

[volente_00]

I think we are going to bounce back from this 2786 SPX level and make a second top before further down... Of course 4 events are going on today, one of them could swing the market either way.

My guess is tag 2765/67 before washing out some weak shorts and moving down to 2711/14