Weekly Poll: Pullback This Week? PART 2

SPY Next Week?

  • Bullish

    Votes: 16 28.6%

  • Flat

    Votes: 3 5.4%

  • Bearish

    Votes: 33 58.9%

  • I prefer to keep my opinion to myself

    Votes: 4 7.1%
  • Total voters
    56
  • Poll closed .
Quote from MKTrader:

Believe it or not, you can actually trade indexes. I have no interest in predicting particular stock prices. Amateur hour is over and I think it's your bed time.
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I'm calling your bluff idiot the only way a serious trader plays the index is for massive amounts of money. I highly doubt you are a big player at all because the way you framed your call sounds uneducated.

Tell us exactly what your trade in the index is, with your short entry strategy on Monday morning and what your exit and stop loss points are. A real trader can easily set these levels.
 
Quote from shortie:

it is strange: by now the bears should be crapping their guts out somewhere in the woods. i vaguely recall that we had similar bearish sentiment in March 2010 and the market kept going higher.
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But the street.com has a more balanced view. Even with a small sample, it would seem that this website has a bias at least for the next week. I voted bullish, but am not very confident, so it is more tilted that it looks.
 
New here, but have been trading for a decade. What I use to predict near-term direction is sentiment, and then usually taking a contrarian stance.

It seems like the talking heads need to get more optimistic for me to be certain of a reversal and downslide. Currently, the general sentiment is rather bearish, so that doesn't bode well for a decline. I think this point is glossed over too often, yet sentiment (and a contrarian result) will often trump technical analysis.

Bottom line...regardless of any other indicator, I would sure like to start hearing more optimism before it looks like a top.
 
this has been the best september in what, 70 years or something? on what? the worst fundamentals in several decades?

that alone tells you the power of the fed printing money for the primary dealers and the desire to keep it up before the elections (and perhaps beyond)
 
Quote from MKTrader:

Uh, no, not like this. Every weekend banks closing in 4 states? We would've run out of banks decades ago at that rate.

Also, in the past, you didn't have so many banks unwilling to lend and sitting on who-knows-what toxic assets. (Yes, that's still very much a problem and time bomb.)

But banks, closed banks or zombie banks, there are plenty of other reasons to doubt this rally, even if it continues a bit longer.
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What your missing is that the supply of banks is not fixed - there are new ones opening up all the time. Charters are not as hard to get as they used to be.
 
So here we are in rally mode again, as I said friday, monday was going to be pretty much a positive day, however if anyone is really paying attention to this rally take look at the SEMICONDUCTORS, huge 1% rally in the markets and the semis aren't even participating, hmmmm.
 
Quote from S2007S:

So here we are in rally mode again, as I said friday, monday was going to be pretty much a positive day, however if anyone is really paying attention to this rally take look at the SEMICONDUCTORS, huge 1% rally in the markets and the semis aren't even participating, hmmmm.
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They're down like 0.6% at the moment?

Someone forgot to tell semiconductors that the recession is over and all is well. Or else they're smarter than the rest of us?

The Euro is diverging somewhat, too. The EURUSD and EURJPY crosses have generally made significant new highs/lows with stocks recently but not today.

Bottom line: it's too early to call a bull victory this week. Way too early. The "recession" news covered up poor housing data. If we start higher but end lower this week, it won't look pretty on the charts (not a prediction, just an if-then statement.)
 
Quote from MKTrader:

They're down like 0.6% at the moment?

Someone forgot to tell semiconductors that the recession is over and all is well. Or else they're smarter than the rest of us?

The Euro is diverging somewhat, too. The EURUSD and EURJPY crosses have generally made significant new highs/lows with stocks recently but not today.

Bottom line: it's too early to call a bull victory this week. Way too early. The "recession" news covered up poor housing data. If we start higher but end lower this week, it won't look pretty on the charts (not a prediction, just an if-then statement.)
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You are right about the early bull victory but the market is just gaining momentum, SPX broke 1130 and is now looking at resistance around 1170-1175.
 
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