S&P 500 very close to intermediate term top

Discussion in 'Trading' started by ghostzapper, May 14, 2007.

S&P 500 is very close to topping 5/15/07

  1. Yes I agree

    99 vote(s)
  2. No I don't agree

    49 vote(s)
  3. Not sure

    32 vote(s)
  1. The S&P closed today @ 1503.2 and the technical indicators arte now signaling an intermediate term topping pattern right here.

    Does anyone see the same thing ?
  2. swinger


    Care to elaborate on the technical indicators that signal a top to you?
  3. nkhoi

    nkhoi Moderator

    DJX chart

  4. cool someone else who uses etrade's crappy charts besides me
  5. It does look and feel like a pivot point is near. The market is sitting right on or near a big trend line and consolidating.

    As I pointed out in the Qs chart in another thread, usually the market is moving up, down or chopping. When it has chopped, it has turned down.

    There is no real catalyst for the market to turn down. Last year it was a host of catalysts to include:

    - Bernanke
    - Iran/Iraq and oil
    - Housing crash
    - recession thinking
    - etc, u know the rest

    I cant point out any specific factors right now and the general attitude in the market is if it sells off, then someone is getting ready to catch it.

    I tend to think that the market will go up from here, but I have been wrong on occasion.
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  7. Um on occasion? Thats an understatement...lol kidding

    market will keep going higher. Last year the markets tanked in May-June-July cause the dimwitted dog Bernanke's lack of subtlety and interest rate hikes. He finally got a clue in September and the markets went higher.

    Interest rates no longer a big issue. Housing was never a big issue. neither was oil and WTF is recession thinking? That makes no sense. Then again few of your posts do.
  8. Where is the choice that says James Stock/Rubberbird is always wrong ?:eek:
  9. whats the all time closing high on the S&P index ?
  10. syrre


    is this the rubberbird again?
    #10     May 15, 2007