Define long term
The S&P has topped
- Thread starter volente_00
- Start date
Define long term
The market is acting just like it did in late Jan-early Feb after the first touch around 2300. 35-36 pt pullback before the ramp. I'd probably watch closely when ES gets down around 2365-66 (the exact level you mentioned), plus that would be a re-test of the SPX breakout level.
It definitely does have a "heavy" feel to it that you only see when too many are long (as opposed to the endless squeeze/momentum buyers) of the last month.
It definitely does have a "heavy" feel to it that you only see when too many are long (as opposed to the endless squeeze/momentum buyers) of the last month.
2 years.
You just don't get how the game works. Do you think there might be a correlation between 50k cfd account holders who are heavily short and retail s&p futures positioning.
When markets make all time highs or lows it's the same retail positioning, retail loves to fade these moves and they lose consistently.
I can't help you if you are dumb as a bag of spanners. You actually thought earlier that retail were hedging, retail as a collective don't have a clue what is going on let alone how to hedge correctly. Comedy
Did you notice how the rate hike just got confirmed and the market won't go down? What is that telling you?
Shorts will start to panic soon and there will be a new ATH. Watch it happen.
Right so 50k retail accounts collectively will show a different positioning to retail ES futures traders. Muppet
This has nothing at all to do with forecasting the direction of the market. Thank you for your time.
What you think is "Macro" is in fact truly "MICRO". The fact that you squeal in delight over one very modest retracement day, and also set a profit target of 2331 for your supposed 240 short call position tells us that while you're willing to start up this huge proclamation thread boldly proclaiming "a top to the S&P" whilst setting such a conservative and shallow target tells us that you're nervous about the quality of your braggadocio.
We're still going to settle up for the week sporto.
With all due respect, this post of yours combined with your proclaimed profit target illustrates your confusing mindset perfectly. Your Macro is in fact Micro.
I'll put my money on Bone and PW...It still might follow the pattern from early Feb with a test in the high 2360's. (but that would also hit a Volente profit target)...
No question it's a micro prediction. I never read anything more into his post (as in long long term top).
No question it's a micro prediction. I never read anything more into his post (as in long long term top).
Bullish Institutions sucking in more bearish retail traders and bearish institutions. Every push down like today give them a chance to load up. Soon the top is going to blow and it will become support. The retail traders and bearish institutions will scramble to cover losing millions. The bullish institutions will be ROFLTAO as they cart their winnings down to the bank and all the bears are pissing in bear bottles and scratching their heads. "Its a bull market you know boys". It is a losing strategy to short something climbing so steep and so strong, thinking it has to end. Too many bullish institutions are driving this rally which is becoming known as the Trump rally to the chagrin of many.