Excellent calling at this juncture.
The S&P 500 will top soon at 2925-2930
- Thread starter volente_00
- Start date
Seriously?!? "Good call"???
After watching the global trade picture get perforated with a self-inflicted wound,
after some mighty Blue Chips turn in half-hearted performance,
after missing industrial production expectation by 0.50% just this morning....
We're STILL down barely 2% from where the "down 10%" call was made.
We're STILL looking at a majority of days since this "great call" with an S&P closing ABOVE the "top" call.
So, this is like a little kids' soccer game, where "Everybody gets a medal!" ????
After watching the global trade picture get perforated with a self-inflicted wound,
after some mighty Blue Chips turn in half-hearted performance,
after missing industrial production expectation by 0.50% just this morning....
We're STILL down barely 2% from where the "down 10%" call was made.
We're STILL looking at a majority of days since this "great call" with an S&P closing ABOVE the "top" call.
So, this is like a little kids' soccer game, where "Everybody gets a medal!" ????
Seriously?!? "Good call"???
After watching the global trade picture get perforated with a self-inflicted wound,
after some mighty Blue Chips turn in half-hearted performance,
after missing industrial production expectation by 0.50% just this morning....
We're STILL down barely 2% from where the "down 10%" call was made.
We're STILL looking at a majority of days since this "great call" with an S&P closing ABOVE the "top" call.
So, this is like a little kids' soccer game, where "Everybody gets a medal!" ????
Predicting is hard. How about you throw yours in?
I did.
https://www.elitetrader.com/et/thre...soon-at-2925-2930.331727/page-21#post-4857338
But then, that was a sucker's bet, and was filled in an hour. It had all sorts of reasons "why" -- not least of which was because it was short-term.
And did you watch the market close on Friday? Lots of selling for the last 15 minutes: profit-taking by people who did NOT want to hold over the chancy, iffy, weekend. What happened? "Short term."
"Long term??" Right now, the economy (remember, 'the economy'?) has a lot of solidity. The geo-political scene is rife with non-market, but most definitely market-impacting bullshit -- stuff that is unpredictable by construction. (Have you seen 2019 VIX?
) That makes any such [non-short-term] prediction a Fool's Errand.The economy sez
; the overall environment sez : so to 'predict' right now is NOT smart. (On the other hand, I'll put a pint down on just about anything.
"Short term.")
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I did.
https://www.elitetrader.com/et/thre...soon-at-2925-2930.331727/page-21#post-4857338
But then, that was a sucker's bet, and was filled in an hour. It had all sorts of reasons "why" -- not least of which was because it was short-term.
And did you watch the market close on Friday? Lots of selling for the last 15 minutes: profit-taking by people who did NOT want to hold over the chancy, iffy, weekend. What happened? "Short term."
"Long term??" Right now, the economy (remember, 'the economy'?) has a lot of solidity. The geo-political scene is rife with non-market, but most definitely market-impacting bullshit -- stuff that is unpredictable by construction. (Have you seen 2019 VIX?
The economy sez
(On the other hand, I'll put a pint down on just about anything.
I have a feeling you are correct regarding "unpredictability" of the present moment.
It's always lonely at the TOP
24 points of heat
129 points of profit
Stick around young pup
The best is yet to come
With news in (til 10am, at least), and we're flat to yesterday's open:
±20 pts all day, 40pts actual range, centered on where we are now.
A 1-minute ATR of 1pt.
A great day to tick-scalp.
The last 15 minutes will again give direction to the Sunday open.
[edit...] Screw it. ±15pts around the open, still ~1pt ATR.
10:15am: WOW. Still have the opening ATR of ~2.0. "Jumpy!"
Will be interesting to see where in the trading day 1.0 comes.
±20 pts all day, 40pts actual range, centered on where we are now.
A 1-minute ATR of 1pt.
A great day to tick-scalp.
The last 15 minutes will again give direction to the Sunday open.
[edit...] Screw it. ±15pts around the open, still ~1pt ATR.
10:15am: WOW. Still have the opening ATR of ~2.0. "Jumpy!"
Will be interesting to see where in the trading day 1.0 comes.
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Meh. Shoulda stayed with the ±20pts forecast.
We flopped around til 10am, and with Consumer Confidence (a lackluster market mover on most occasions) popping to "102.__" we zipped up +30 to 2885.
We soon camped out at +20 between Euro-close and 3pm ("Chiiiiii-nahhhh"),
when we dropped to camp out at flat-for-the-day.
I'll score myself "Half-a-hit" on this one, as while it was still a net-No-Action day, we didn't drop below the open -- something I anticipated. I wonder if this smells of a drop for Sunday open...
("Don't worry, Hun. You just have the bags packed, and 30 seconds after I'm home, we'll be headin' to Montauk....")
We flopped around til 10am, and with Consumer Confidence (a lackluster market mover on most occasions) popping to "102.__" we zipped up +30 to 2885.
We soon camped out at +20 between Euro-close and 3pm ("Chiiiiii-nahhhh"),
when we dropped to camp out at flat-for-the-day.
I'll score myself "Half-a-hit" on this one, as while it was still a net-No-Action day, we didn't drop below the open -- something I anticipated. I wonder if this smells of a drop for Sunday open...
("Don't worry, Hun. You just have the bags packed, and 30 seconds after I'm home, we'll be headin' to Montauk....")