I think we are making a top at 1345-60 in the S&P and am looking for a pullback to 1260-1270. I will consider my self wrong if we close above 1370.
Don't know about topping, but I added to djp rather than iwm on Friday. Commodities in general lagging a bit here, but if this recovery is for real they will need to play some catchup.
1370 probably by tomorrow 1378 by Tuesday 1389 by Wednesday 1392 by Thursday 1400+ by Friday of next week. No such thing as a losing market, this is a risk free money making market, no matter what it only goes up..... They should be able to push the SPX up 50 points a month by the end of the year it should be sitting at 1900+ BUBBLE ben bernanke will be sure to thrown in some QE 3 somewhere along the way!!!!!!!!!!! Cant have a falling market now, can we.
Yeah I got two out of three general type models flashing red now. One went last Friday, another one today. The last one will be by close tomorrow. Will be out of most longs by EOD tomorrow. Not going short though. I'm not that crazy. What I'll do is buy me some VIX call spreads. Limited risk and reward, but that'll at least let me sleep at night if the models are all wet.