The S&P 500 will top at 3250

Discussion in 'Trading' started by volente_00, Dec 28, 2019.

Will the S&P top at 3250 and pull back 9.23% ?

  1. Yes but it won't reach your 9.23% pullback

    2 vote(s)
    6.5%
  2. Yes and it will reach your 9.23% level of 2948 SPX

    4 vote(s)
    12.9%
  3. No way, Trump is taking this sucker to 3400

    17 vote(s)
    54.8%
  4. Who cares you are still early to the top

    8 vote(s)
    25.8%
  1. Overnight

    Overnight

    Your signals did not account for new case of virus in USA. And neither did Volente's. He got lucky, and you did not.

    News moves the markets, not "technical analysis".
     
    #131     Jan 25, 2020
  2. themickey

    themickey

    My impression is major market signals are one step ahead of the news, that is, news follows the market.
    Often when I get a strong signal and the market reacts opposite, this indicates a market turning point.
    So I get a market bullish signal and price goes down, bears have control so that is a signal in itself.
    But (there is always a "but") market turning points often see chop and signals get smacked around the ears. (Not January 2019, that was a sudden reversal)
    So in light of Friday market being negative, I had been bullish but not so sure anymore, would not be surprised if we are topping now.
    In real terms, I'm not buying stocks any longer, too risky imo.
     
    #132     Jan 25, 2020
  3. volente_00

    volente_00

    Where are all my haters at tonight ?

    :finger:
     
    #133     Jan 26, 2020
    Builder17, schizo and Laissez Faire like this.
  4. So, trade the news then? And why are you not short then?

    It should be obvious for most that news are not what moves the markets.
     
    #134     Jan 26, 2020
    _eug_ likes this.
  5. volente_00

    volente_00

    I'm always one step ahead of the news

    That's the life of a contrarian trader
     
    #135     Jan 26, 2020
    _eug_ likes this.
  6. schizo

    schizo

    Only if you hadn't made those 10 other failed calls. :p
     
    #136     Jan 26, 2020
    Overnight likes this.
  7. Overnight

    Overnight

    If news does not move the markets, then what does? A head and shoulder pattern that forms after the fact of the move?
     
    #137     Jan 26, 2020
  8. themickey

    themickey

    Algos move the market.
     
    #138     Jan 26, 2020
  9. Overnight

    Overnight

    Indeed, and algos are triggered by headlines, no?
     
    #139     Jan 26, 2020
  10. themickey

    themickey

    I think algos triggered by news would be the minority.
    I'm not sure how an ago would interpret news without human intervention of some sort.
     
    #140     Jan 26, 2020