Fer crying outloud. Not again.
The S&P 500 topped at 3017.8
- Thread starter volente_00
- Start date
And hey, let's see if it works. I'm still long in YM at 27316. Let's see if it can jump 80 points by the middle of September, before contract expiration. After all, there is zero risk in going long, and there always has been, apparently, since the beginning of time.
Based on my experience since Feb 2018, about the time everyone thinks the bull market is invincible is about the time the rug gets pulled out from under everyones' feet.
Zero risk free money, remember?
Another one...?
What's the rationale?
There's potential of a double top in play, but I'm not convinced. If I were entering a swing short, I'd wait for confirmation at the highs before initiating a position. As of now, I would not be surprised if we print 3022 + before the close today (24th of July). 13 minutes left to make that happen.
I have to think there is no rationale...why should there be...go back to 2000 2008 and even Nov/Dec of 2018 ...you couldn't find any rationale until well after the collapse took place. So now imagine 3017 or 3023 or 3156 is the top and markets go into a dark unforeseen collapse that takes the s&p to levels unimaginable...then maybe after the storm clears you might find the rationale you are looking for.
not 'everyone' of course... but how do you measure... I use AAII for some reference...but this one is a beauty that I have posted several times.
https://www.dailyfx.com/sentiment
last time the rug got pulled out was when the long/short was close to 50/50.... currently at 27/73, this is a ratio similar to middle part of 2018 where we had some 5-10% corrections.. so for the foreseeable remaining part of 2019 that's how I'd play it.
Hehe, it doesn't matter, it's just a fun choice to make.
*Psst, I know that. Tell that to a few others here who seem to think it is a real thing.*
P.S. *Pssst, you are not good at reading sarcasm meters.*
3090's before any chance of a top, dude ... it is written in the chart