The S&P has topped

The S&P has topped

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Well, I didn't expect such a strong showing by the market, but here we are. We also have 2 consecutive up gaps, and at least today's should be filled if not today but very soon.
 
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Added some more ES short at 2389 new average is 2379.75 on the September contract, market seems alot stronger than i had expected, but still think that the highs hold until late summer/early fall. stop now over 2400, first target low 60's will probably take off a quarter.
 
There is a good chance today's volatile up and down was the end of this rally and we didn't put in a new high for the SPX. Sell in May is close, I say we go down from here....Not to mention those unfilled gaps...
 
Pekelo said:
There is a good chance today's volatile up and down was the end of this rally and we didn't put in a new high for the SPX. Sell in May is close, I say we go down from here....Not to mention those unfilled gaps...
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Ill feel alot more comfortable when/If the june contract gets back below 80, will probably add some more if it does.
 
The __dirt__ volatility has me bringing the bottom up, and the top down: *not* a happy man.

Waiting til maybe this time tomorrow (seeing where Apr28 finishes) before I put anything more on (besides filling in some holes here and there, and harvesting what appears to be in danger).

Would love to end today below 2385 (20pts below, 2405, curiously enough), but I'm not seeing it. I'm seeing 2380-2400, with an upside bias above our current 2390.

Time to go.
 
Pekelo said:
There is a good chance today's volatile up and down was the end of this rally and we didn't put in a new high for the SPX. Sell in May is close, I say we go down from here....Not to mention those unfilled gaps...
More...

Good chance you're wrong
 
Bit the bullet today and took about a three tick loss on my ES short, the market has had lots of reasons to break down last couple days with AAPL, and FB, but dips seem to be getting bought, i gave it a few days and there is no progress, generally speaking, good trades start working quickly and bad trades keep holding in at your entry, before they set a higher low and rip your face off.

The market has attempted to break below 2380 five times, and failed every time, not a good sign for shorts, im going to be looking to short any kind of parabolic move through 2400 now. I might miss the boat on this one, but generally when a trade does this it just ends up turning into a loser when i get stubborn. Better safe than sorry.
 
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