The high in April was 1219.8 It is my belief that the S&P is forming an intermediate term double top around 1220. This does not mean it will not go abit higher than 1220. I think the formation now is in the process of forming a top. So should zig zag abit around 1220 as the top forms.
Quit posting this crappy analysis masquerading as technicals. As I told you before, you don't have a clue how to read a chart. Here's some news for you; you can't call "double tops" before they are established. You've called around a dozen tops in two months. It's getting really, really stupid buddy. Yes, if you call a top every few days eventually you'll get a top. Then you claim a 10% success rate predicting tops I guess. You've been thoroughly owned. You claimed the S&P 500 was going to 1000 in short order from 1103, when in fact it went to 1220. That's a 22% miss on an index; that's brutal. Please stop posting this crap. It's embarrassing.
Here's the thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=209762 (I'm still long though)
I wouldn't know the difference between a bull market and bull shit other than the fact they both have the same first 4 letters...last time someone said that was September 1987...comedian , passed away, named King...and what happened.... Incidently, I agree with him.....too late to tell him though... NiN
no. your call will fail. then when the S&P at 1500 you'll call a triple top. You'll fail again. Then the S&P goes to 2000
150,000 jobs added to the economy!!! Economy needs a minimum of 250k jobs a month for the next 5 years or so to get get the unemployment rate back below 5%, 150k jobs just absorbs the new labor force into the economy. QE3 is coming next week!