The S&P 500 topped at 3481

[themickey]

The higher we go, the greedier, the more leverage, the more players enter.
There will come a tipping point where more Bill Hwang's will meet their Waterloo.

 

[noddyboy]

don't do it dude! You're burning money.
Markets are literally designed to go up. If we got some new mega covid virus or something then short, but for now, we should generally just go up 10 points per day on average until 5k or so

So doing it. I am the last bear standing. Mwhahahhaha.

 

[Master Pu]

Oil is just getting going. It could fail at support of 5720, which would make 5250 a larger position long. XLE>XLK coming up. In a big way - don't let the past 3 weeks of action fool you. I see the NAS suffering alpha for the remainder of the year. Banks are poised to tear. No exposure in the NAS to banks or energy. XLB, XLI (Transports specifically- pick an airline - any airline, it doesn't matter), XLE, XLF. It also adds up to buy industrial metals. That's the read. Globally. Country by country. Currency by currency. Printed out, really nicely.

XLY will come along for the ride.

I was only kidding about calling the top in oil, perhaps an intermittent top, next wave being down.

 

[CopperOverGold]

possibly. It's good to be prepared for all outcomes. What are you seeing, other than the XLE being a graveyard of new highs? I'm genuinely interested.

The sector needs HES to print a new high. Failing that, and I'll be out of my oil positions. At least until we get to 5250 in CL.

All that backwardation though. And jnk/ief is doing HH/HL's? It's why I'm positioned long.

Finance is about to breakout, across the board. So there's that. RTY to melt-up?

 

[Relentless]

possibly. It's good to be prepared for all outcomes. What are you seeing, other than the XLE being a graveyard of new highs? I'm genuinely interested.

The sector needs HES to print a new high. Failing that, and I'll be out of my oil positions. At least until we get to 5250 in CL.

All that backwardation though. And jnk/ief is doing HH/HL's? It's why I'm positioned long.

Finance is about to breakout, across the board. So there's that. RTY to melt-up?

???

RTY has been melting up for over half a year...

 

[CopperOverGold]

Not lately. It has been severely lagging the past month.

SPX: +4.8%
NDX:+5.9%
RUT: -4.3%

that's a 9.1%-10.2% difference. Those are big numbers in 1 month for indices, and not fun to be in the wrong one.

While I believe its run will continue throughout the year, it's the only index not to clear it's Feb highs. And as of right now, the SPX is setting up to be poised to take over the leadership position. One could argue RUT has already broken down, relatively. It's at a make or break spot. If it breaks up, it might be a face ripper. Oil isn't helping.

 

[Relentless]

Not lately. It has been severely lagging the past month.

SPX: +4.8%
NDX:+5.9%
RUT: -4.3%

that's a 9.1%-10.2% difference. Those are big numbers in 1 month for indices, and not fun to be in the wrong one.

While I believe its run will continue throughout the year, it's the only index not to clear it's Feb highs. And as of right now, the SPX is setting up to be poised to take over the leadership position. One could argue RUT has already broken down, relatively. It's at a make or break spot. If it breaks up, it might be a face ripper. Oil isn't helping.

-4.3% and yet.... you fail to mention it's up 50% since last Sep.

People need to wake up. We've been in a meltup since last year. It isn't rocket science.

 

[Master Pu]

possibly. It's good to be prepared for all outcomes. What are you seeing, other than the XLE being a graveyard of new highs? I'm genuinely interested.

The sector needs HES to print a new high. Failing that, and I'll be out of my oil positions. At least until we get to 5250 in CL.

All that backwardation though. And jnk/ief is doing HH/HL's? It's why I'm positioned long.

Finance is about to breakout, across the board. So there's that. RTY to melt-up?

Just based on technical reasons.

 

[CopperOverGold]

(eye roll)

 

[destriero]

SPX hit 4218 yesterday. My math shows the diff between Polenta's top call and yesterday's ATH is 737 points. Please confirm, thanks.