The SPX has hit a cyclical top

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destriero

destriero

We're done. We will not take out SPX 3020 on a daily closing basis in 2019. Every macro trend that I follow is softening and I expect to see flat GDP by Feb 2019 (post holiday hangover).

You can short with impunity.

SPX: 2888.8. Not to exceed 3020 (closing) any time between now and end of 2019. Likely not until after the 2020 election.
 
I'm more than happy to take the opposite side of that. I'll be loading up some more after this pullback is done, though most likely in the R2k (depending on how the dollar moves in the next few days) or the NDX. I'm expecting SPX to exceed that level in 2018. I guess that's what makes a market. Good trading.
 
volente_00 said:
Did surf hack your account ?

:D
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Surf had the balls to say 'no more new highs this year', while the OP is sticking his high prediction for the year behind the big number 3000, and also about 5% away from current levels which is quite a long way for the stock market to travel in 3 and half months any way.
 
destriero said:
We're done. We will not take out SPX 3020 on a daily closing basis in 2019. Every macro trend that I follow is softening and I expect to see flat GDP by Feb 2019 (post holiday hangover).

You can short with impunity.

SPX: 2888.8. Not to exceed 3020 (closing) any time between now and end of 2019. Likely not until after the 2020 election.
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We get one of these posts every few months. 1st from you. I wish I could say good luck, but I'm not hoping for a change in direction.
 
I rarely short the US indices because they rarely form long-term downtrends with smooth gradients and modest pull-backs. Having taken five figures of profit out of the indices in January, I'm interested but also feel confident to wait out a downturn until I can go long again.
 
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