I don't think I would change popular concencus by posting on ET. Its reach isn't quite that far nor am I a mouthpiece. Predicting the market is retarded, plain and simple. You're bound to be right through pure luck at some point. But enough retards were banking on the head and shoulders as the sign a couple months ago that when it was broken there was a lot of panic buying. I'll take that trade thank you. Risk/reward.
hey you dont go along with it - WE GET IT! that's your right I'll be happy to read what you have to say when it's more than 'I'm right and everyone else is wrong!' No matter how much bla bla bla you throw out, that's all that's there and it isnt much and this "There's actually some very good ways of measuring skepticism, which I use, and no I'm not telling you what they are. " translation "I know but i'm not telling - you should take the word of an anyonymous guy on the internet who cant tell you why he thinks what he thinks" that's total bullshit ii've put all my cards on the table - if you're not showing yours, that's fine but do us a favor and SHUT UP!!!!
I think that a more relevant definition of "the" top would be a high that holds as we get at a very minimum a 38% retracement of the move from 666, in other words a move down to 920 or so. Take a look at the attached picture... you will see how insignificant a decline to 1019 really is in the grand scheme of things...
i said a close below the 200 month before a close above this months high - that is technically signifiganct, and it keeps the day of calling this right or wrong from going on and on i didnt say an interday touch to 1019 i'm not really into fibbonacchis - the devil is in the details of from what to what, and then which fib
translation: 'predictions are retarded, except when i do it' to those of you who dont beleive in this, well, then dont it's a thread on the internet, a parlor game not a formal proposal to change to the US constitution if you have an analytical counter point, by all means post it but if it's just 'i know more than everyone else' or 'i dont beleive in doing this' then spare us
Looks like head and shoulders pattern right now also we are in a bearish month so a 10% correction is very possible. I am currently trade the day and normally don't hold over night. Seems the day is affected by reports which then create the technical patterns. http://finance.yahoo.com/q/ta?s=^GSPC&t=5d I would probably not be in margin on any long term stock positions right now.
I wasn't specifically extolling the virtues of Fibs, but you can hardly call a decline to a uptrend line "the" top, and that's all a decline to 1020 or so would be. But in any case, this is all kind of pointless... let's just trade what we see instead of trying to make predictions...