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

[destriero]

soon u may be running out of material to make any more shorts......LOL

Polenta's trading threads never run out of the cashish. He's still "short" from 2813 brah.

 

[speedo]

A trader should never sell naked puts


Ask Vic how that turns out

Fear is always stronger than greed

I agree with that.

 

[murray t turtle]

Seems like a low odds call - bears just had their shot and ended up drawn and quartered, we've seen total Fed capitulation with no clear bear catalyst in sight, we're very close to ATH which should lead to a follow-through move if broken, and there's all kinds of support below us but well above your <2700 target.

I can see reasons to be long now and reasons to have recently exited longs and awaiting a pullback, can't see any reason to be short...

%%
Good points; not the longs exit unless you got in late. I did a TQQQ exit but i got in late; + they pay no dividends.

Main problem for the longs/uptrenders traders is summer rally tends to be weakest /SEPT selloff. Most investors would have a profit built up+ so a sell in May/way may not even trigger many stops-depends really on when they got in + selling plan.............................,

 

[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

I've checked your numbers and you're good.

 

[NQurious]

I've checked your numbers and you're good.

Posts like this make me laugh out loud. Thanks for the levity, B1

 

[destriero]

Posts like this make me laugh out loud. Thanks for the levity, B1

Congrats! You've reached the rarified air of the Home Depot Brothers and the Hawaiian ukulele player/pizza delivery guy.

Now, back to business...

1. Start "index topped" thread
2. Lose 100 points
3. Start "index topped" thread
4. Lose 100 points
5. Rinse, repeat

 

[Buy1Sell2]

Posts like this make me laugh out loud. Thanks for the levity, B1

Gimbal angles and all tell the story.

 

[Buy1Sell2]

Gimbal angles and all tell the story.

 

[maxinger]

India Nifty Index has already broke its record high.

 

[Laissez Faire]

Why bother - considering you said essentially the same things 100 + points lower?

It would make it at least a bit more interesting if you said why you think the market is topping here. 9% down takes us to around 2640 on current ES levels.

Being this close to all-time highs and no seeming catalyst for a sell - isn't it just as likely that we'll see a test of the high from September/October?

Regardless - I think a top worth trading will present a good sell signal. Here's what happened the last two times the market experienced 'selling':