The S&P will top at 4540-4601

Will the S&P top at 4540-4600 ?

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Relentless said:
Debt ceiling chatter is political theater.

We're going lower regardless.
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Why are we going lower?

I wish you're right, but fear you're wrong. Probably going to see the mother of all reversals when the debt ceiling is increased for the 100th time.
 
Laissez Faire said:
Why are we going lower?

I wish you're right, but fear you're wrong. Probably going to see the mother of all reversals when the debt ceiling is increased for the 100th time.
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My reasons are technical. News is Kabuki Theater to me. If its relevant enough it will show up in the charts. Fed days are the one exception I make sure I'm flat before and after announcements for a set time.

We'll see 4225 on ES at some point - but I'm still expecting to hit the 3640-3860 range before its all said and done (which seems to be in line with Volente's range).
 
Relentless said:
My reasons are technical. News is Kabuki Theater to me. If its relevant enough it will show up in the charts. Fed days are the one exception I make sure I'm flat before and after announcements for a set time.

We'll see 4225 on ES at some point - but I'm still expecting to hit the 3640-3860 range before its all said and done (which seems to be in line with Volente's range).
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I'm mostly a technical trader myself, but certainly some news items matter - and I imagine a 20 % + correction would be geared towards some type of news for sure.

I'm pretty sure we'll see a good sized rally as soon as this debt ceiling drama is out of the way.

Like I said - I hope you're right, but fear you're wrong. :)
 
Market looks very resilient . 3 plunges down to the 4260-80 area and everyone bought hard . Were sitting at 4370 a mere 4% off ath’s . I have no idea where mkt goes nor does anyone else . But for 6 weeks of such negativity after 110% run we ain’t down shit .
 
SammyJ said:
Market looks very resilient . 3 plunges down to the 4260-80 area and everyone bought hard . Were sitting at 4370 a mere 4% off ath’s . I have no idea where mkt goes nor does anyone else . But for 6 weeks of such negativity after 110% run we ain’t down shit .
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Yeah, won't be surprised if we get new ATH
 
Overnight said:
Well, we KNOW we'll get new ATH again. The question is WHEN.
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I have no idea what this month will bring but the longer we get through it without significant downside the more confidence I have in a late year rally from roughly November-January. My guess is the next rally tops out in the 5000-5100 area on the SPX and sometime before April 2022 ( possibly by mid-January in some scenarios ). While 3400-3600 that several are forecasting is not impossible, it's highly improbable given the economic growth, profit growth, and low interest rates.
 
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