Triple Top on the SPY

I don't think it has anything to do with Baron at all..
Worse, he could be a shill, much like on the coffee threads YEARS ago I found out...BUY BUY BUY, meanwhile, they are SELL SELL SELLING...

More than likely, Michael Scott is just a loser trader, delusional, been losing for years.
"Eventually, my analysis will work" he thinks out loud.

He will likely blow his brains out....
 
Quote from imbiber:

Any time I see a top called on ET I load up more longs.
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Exactly.
Especially when the thread is started by the ultimate "fade-king" Ghostzapper/Rubberbird Brain!
:p
 
mike as much I want to agree with your triple top suggestion I have to disagree 101%.

There is no top and probably wont be. I was long today selling out my last short position. Last time I did this the dow fell very hard. This time though I know im right, dow is going to 14k tomorrow and wont look back anytime soon. Today is the day........14k will lead to 15k by sept and probably close 2007 at 16k+.
 
No top in sight. We'll enter bubble territory again after 1640 or so, and I may start pulling back after that.
But the most likely scenario is continued up next week, 'cause it's an options expiration week, and then sideways until Sept 'cause everyone will either be at the beach or unconscious in their backyards after too many beers with their baby-back ribs on the grill.
 
I could see where someone might think about a possible triple top back on the 9th. Approaching previous highs on low volume yada yada yada. But today?

The previous two highs were taken out significantly. Chart patterns can be subjective, but this is not a triple top.
 
Quote from TL Trader:

The previous two highs were taken out significantly. Chart patterns can be subjective, but this is not a triple top.
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I agree. Not only that, but there is always at least a double top on every move up. It's a mathematical certainty in a rising market to have at least two tops until the market resolves itself to the upside or downside.

I don't know how anyone can look at a weekly or monthly chart of any of the major indexes and consider the charts bearish.
 
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