Grand, some advice: Don't go chasing waterfalls Please stick to the rivers and the lakes you're used to - TLC, Waterfalls
There is NO competent technical basis to be calling a major market "top" in the S&P. None. And after that reverse pennant breakout the first of the year, continuing to call for a market breakdown was folly in terms of technical price action. Higher highs and higher lows. Classic. If I was already long, I would lighten up at 1370 ( last Fall's highs ), 1425, 1500, and short 1575. In terms of initiating a fresh short, you definitely want to have a few hard closes below that prominent trendline. Give up some trading range in exchange for better confirmation. Just look at that Bear Trap from last Summer. Ouch.
I don't want no scrubs. A scrub is a guy who can't get no where with me hanging on the passenger side of his best friends ride trying to hollar at me.
I propose that we create an ET octagon, say in Kansas City so it is about the middle of the US. There we settle such matters in a no rules match with no time limit. I bet grand superduperpooperscooper would use a lot of biting, kicking, screaming, and scratching but at least the feud with hind-ender would reach its natural climatic conclusion
I wonder how many times he has to be wrong before he's right? :eek: Once? Or twice more? Sooner or later, this moron will get lucky simply because it's impossible to ever be wrong as persistently as he's been saying there'll be a waterfall selloff, whatever that means. Betting we set a higher low above NQ's 2575 followed by a breach hh or new lower high. Chart shows a clearly defined lower high. That was a pitifully low volume rally on greek speculation that won't prevent Eurozone recession. Lower high at 2640 in NQ.