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

[Nine_Ender]

“Path of Pain” says you’re right.

In the interest of disclosure, I went to cash in my largest account on July 16th after a small ( 1% ) gain in Cdn equities ( because CDN$ was rallying on interest rate news ). My gut says US stocks are going higher this year but short term direction seems unclear now might become clearer by July 31.

 

[Ironman777]

S&P 500 will top at 3000 soon.

 

[Pekelo]

S&P 500 will top at 3000 soon.

We are putting in a double top with huge RSI divergence. I say a little relief drop at least is in order...

 

[Buy1Sell2]

We are putting in a double top with huge RSI divergence. I say a little relief drop at least is in order...

Agree in toto

 

[volente_00]

Shorted ES avg 3000.5
Stop is 3031.5

Objective 1 is

Add size here at top of trendline at 3018 and 3018.25

 

[Nine_Ender]

We are putting in a double top with huge RSI divergence. I say a little relief drop at least is in order...

Potential "double top" was defeated in the lower 2900s ( third time we broke the level ).

 

[bone]

Potential "double top" was defeated in the lower 2900s ( third time we broke the level ).

Yeah we’ve seen this “double top” movie a few times now.

Given that the trend is eleven years old now - the corrections are short lived to date.

 

[NQurious]

My immediate expectation is for a 3 to 5 +/- day pullback to the low 2900's or lower, perhaps all the way back to 2850's.

Then rally to 3020's, perhaps 3100 or higher ESU.

If only we could have known that as far back as June 22 or so ... that would have been worth 100 points on the ES!

 

[S2007S]

Anyone buying the VIX?

VXX at 52 week lows.
Complacency is kicking in on overdrive!

If the vix drops below 12 time to go long !!!

Everyone usually jumps on the long side of the VIX after markets have fallen 3-4-5% ...time to get in may be soon especially if you believe the fed isn't cutting rates by a huge gigantic 50 basis points at the end of July.

Huge rally in VXX

Rinse and repeat with VXX Everytime!!

 

[Nine_Ender]

In the interest of disclosure, I went to cash in my largest account on July 16th after a small ( 1% ) gain in Cdn equities ( because CDN$ was rallying on interest rate news ). My gut says US stocks are going higher this year but short term direction seems unclear now might become clearer by July 31.

Follow up, given market action yesterday I moved my remaining funds in US equities to a bond fund yesterday ( not perfect timing but banked another 2.5% in July on this money ). Zero equity exposure at this time.