The S&P 500 will top at 3250

Will the S&P top at 3250 and pull back 9.23% ?

  • Yes but it won't reach your 9.23% pullback

    Votes: 2 6.5%

  • Yes and it will reach your 9.23% level of 2948 SPX

    Votes: 4 12.9%

  • No way, Trump is taking this sucker to 3400

    Votes: 17 54.8%

  • Who cares you are still early to the top

    Votes: 8 25.8%
  • Total voters
    31
themickey said:
Prior to market opening on Friday you called a short.
The signals I was getting was for a 'definite' bounce upward for Friday.
You were right and the bounce never happened, so actually it's me licking my wounds. :)
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Your signals did not account for new case of virus in USA. And neither did Volente's. He got lucky, and you did not.

News moves the markets, not "technical analysis".
 
Overnight said:
Your signals did not account for new case of virus in USA. And neither did Volente's. He got lucky, and you did not.
News moves the markets, not "technical analysis".
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My impression is major market signals are one step ahead of the news, that is, news follows the market.
Often when I get a strong signal and the market reacts opposite, this indicates a market turning point.
So I get a market bullish signal and price goes down, bears have control so that is a signal in itself.
But (there is always a "but") market turning points often see chop and signals get smacked around the ears. (Not January 2019, that was a sudden reversal)
So in light of Friday market being negative, I had been bullish but not so sure anymore, would not be surprised if we are topping now.
In real terms, I'm not buying stocks any longer, too risky imo.
 
Overnight said:
Your signals did not account for new case of virus in USA. And neither did Volente's. He got lucky, and you did not.

News moves the markets, not "technical analysis".
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I'm always one step ahead of the news

That's the life of a contrarian trader
 
Laissez Faire said:
So, trade the news then? And why are you not short then?

It should be obvious for most that news are not what moves the markets.
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If news does not move the markets, then what does? A head and shoulder pattern that forms after the fact of the move?
 
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