My parameters say 3250 is the top on SPX I have a 9.23% drop targeted to 2948 in next the next 90 days 1% deviation and will consider my analysis void if SPX closes over 3283 Good luck to all my trading brothers
One might get lucky with the single stock : but, the whole market... Whats the point. I don't know ? Unless one is all in into equities, and high correlation portfolio ; otherwise, why would it matter. We already got guys bailling out. Based on... 20 yrs VOO (?) What about 1930 - present trend ? p.s Today found, a, cough* better thing to focus on : https://www.elitetrader.com/et/threads/cassies-pictorium.193537/
you mean you drew some imaginary 'trendlines' that only live in your head and that is the top.... this shit has ruined so many investors.
So you are basically saying that the S&P will go up only 10 more points, heading into Q4 earnings in January, and then correction ensues. Hmm. I do not think the top is in yet. How can this January be weak with all the retail spending going on during the holiday season? Amazon reported a whisper of "best holiday traffic to date".
The first option is very probable since it specifies an arbitrary amount of pullback (including a minimal one).
Didn't the OP already call the top last year, and then in May of this year and then again in August? Dude, you've cried out wolf too many times. They ain't listening to ya anymore.
Well, yeah, in the end, there is no such thing as a "top". There are touches and then pullbacks, but the equity markets will never reach a limit and pull away and then never get there again on the long side.
Well, let me ask you. Were you trading back in 2008? When Lehman and Bear Sterns came tumbling down, it was a scary time for the bulls. It's really funny how forgetful people are as if the past cannot be repeated (yet they always do). It's also worth noting that when it comes to pure greed and fear, fear will ALWAYS triumph over greed.
No, I was not trading back then. But have the markets not exceeded the tops of 2007/2008? There is no true "top", a ceiling that will never be breached.