S&P has had it ! Intermediate term top right here !

I started this thread w S&P @ 1536.

So I don't think you'll find anyone buying that this thread was after the fact.
Jealousy hurts like a bitch waggie/landis/apexcapital/coinz/tuderjones/sisepeude !

 

buy 1380 sept puts that is the gravytrain

 

You started your thread nearly 20 POINTS AFTER THE SPX had already Topped!!!

What is it about "after the fact" that you are unable to understand?

You obviously have a great deal of difficulty with English Reading & Comprehension.
May I suggest an ESL course?
Do they offer that at Bellevue Hospital?

 

You were wrong thorn!


We saw 1426 instead of 1430

 

Don't cry waggie, things will get better for you, they can't get worse.

I guess I started this following thread "too early" lmao:

http://www.elitetrader.com/vb/showthread.php?threadid=94442

waggie/sisepeude/apexcapital/landis = a true piker/loser/gay boy

 

Recognizing that “What is – is” and that everything in the future is a wild ass guess, then I consider and guess:

1. The S&P 500 Bullish Percent Index is now in a column of O’s at the 48% box. This is a point and figure based chart having a range of from 0 to 100%, that measures all the S&P500 stocks that are on a point and figure buy signal. This chart has pulled back to the 48% box six times since mid-2004, and then reversed back up each time. However, if you go back to 2002, it managed to get all the way down to the 12% box; which means that only 60 of the 500 stocks were on a buy signal; and

2. The S&P500 point and figure chart’s last bearish price objective was 1330. This price objective was negated when the chart reversed back up and gave a buy signal at 1480. Then, an ominous chart pattern at market tops called a “High Pole” occurred. (A high pole occurs when a column of X’s exceeds the previous column of X’s by at least 3 boxes, and then reverses down in the next column of O’s more than 50% of the previous column of X’s). The long and short of it is a 1st bearish price objective of 1330 and the 2nd bearish price objective of 1220.

http://stockcharts.com/def/servlet/SC.pnf?c=$SPX,P

3. My S&P500 pivot point swing chart has a negative trend, and a first bearish price objective of 1361, and a 2nd bearish price objective of 1297.

Summary:

-If the S&P500 P&F chart goes down one more box, and one box only, and then reverses up, it’s a classic P&F Bear Trap signal. A bear trap P&F signal requires a triple bottom and reversal up as I described. They are very telling signals, even at these beginning thrust run-downs. If in fact it reverses back up, along with the Bullish Percent chart, then a continued summer rally would not be at all surprising.

-BUT, if the charts reverse below that one box, then there’s minimal support at 1330 and stronger support at the 1370/1380 area. If they break below that, then my price objectives become a real possibility.

Again, just my WAG.

Chuck

 

Interesting. Thanks for the input. its refreshing to read something of substance from a real trader,
and not from the usual maggot and piker (landis, volente)

 

For whatever reason, the correct P&F chart did not post, nor did my swing chart. I'll try once more.

http://stockcharts.com/def/servlet/SC.pnf?c=$SPX,P

 

So, somebody tell this dumb old fart how to post a chart directly onto the thread.

TIA

 

Yes thank you landis/waggie/sisepeude for time-stamping that I was within 20 points of the exact top (S&P @ 1536) when I made this great call !