The S&P 500 will top soon at 2925-2930

[volente_00]

I say the S&P 500 will top at 2925-2930 and we will pull back 9% from this level
I will allow 1% deviation on the trade so I will consider this top void if we on a closing basis are above 2959.3

 

[destriero]

https://www.elitetrader.com/et/threads/the-s-p-500-has-topped-on-2-25-2019-at-2813-49.330214/

 

[Buy1Sell2]

I say the S&P 500 will top at 2925-2930 and we will pull back 9% from this level
I will allow 1% deviation on the trade so I will consider this top void if we on a closing basis are above 2959.3

Why not just say the market will top at 2959.3?

 

[destriero]

Why not just say the market will top at 2959.3?

Because he thinks that he can take credit anywhere from current prices -> 2960.

#clownshoes

 

[volpri]

Why not just say the market will top at 2959.3?

Because it ain’t and it won’t cause it can’t ....with Mr T running things!

 

[trader99]

I say the S&P 500 will top at 2925-2930 and we will pull back 9% from this level
I will allow 1% deviation on the trade so I will consider this top void if we on a closing basis are above 2959.3

dude. stop calling tops! Long ago, I had that mistaken disease. Now I trade what I see and not what I think. Make more money and lose less money.

Maybe it will top soon or maybe not. Doesn't matter to us traders.

 

[Pekelo]

Why not just say the market will top at 2959.3?

Just look at it as a stop loss. You use them too. His point is, that if he is wrong only by a few points (let's say the real top is at 2935) he is practically right, but you could call him out being technically wrong. Thus the wiggle room.

 

[ElCubano]

Zzzzzzzz

 

[Buy1Sell2]

Just look at it as a stop loss. You use them too. His point is, that if he is wrong only by a few points (let's say the real top is at 2935) he is practically right, but you could call him out being technically wrong. Thus the wiggle room.

Then should he say, "I have a limit sell order in at 2925 with my stop loss at 2960."?

 

[Buy1Sell2]

I say the S&P 500 will top at 2925-2930 and we will pull back 9% from this level
I will allow 1% deviation on the trade so I will consider this top void if we on a closing basis are above 2959.3

With you and Peks as the top two traders on the board, this is very valuable information.--Izzy.