Toppy or Readey to Rock

[The Answer]

920 in ES has been a pivot in the past and the market seems strange at that level once again. However shorts seem real dangerous. Does anyone have a clue for direction the rest of the week?

 

[iceman1]

Quote from The Answer:

920 in ES has been a pivot in the past and the market seems strange at that level once again. However shorts seem real dangerous. Does anyone have a clue for direction the rest of the week?

Likely Up AND down.... into expiry, with bias to upside. But lately my dartboard has needed repairs.

Ice

 

[Pabst]

Quote from The Answer:

920 in ES has been a pivot in the past and the market seems strange at that level once again. However shorts seem real dangerous. Does anyone have a clue for direction the rest of the week?

If we supply the clue, do you have the Answer?

 

[The Answer]

Quote from Pabst:



If we supply the clue, do you have the Answer?

Never sell 'em when sap is running up the trees.

 

[Babak]

I'm watching the upcoming window dressing for a chance to short into the last gasp of the bear rally.

 

[Free Thinker]

does the old wall street sage "sell in may and go away" apply this year?

 

[Pabst]

Quote from vhehn:

does the old wall street sage "sell in may and go away" apply this year?

It seems that pre-summer, i.e. May is usually a counter trend trade. Sometimes you get those slow grinding summer rallies after Jan-May weakness. But given that we're going up now, I'd say the odds of a corrective summer are increasing.