The S&P has topped

I say the S&P has topped at 2400 or is within 25 points of doing so. I will consider myself wrong if we print 2426 before a pullback to 2331

 

Certainly looks like a blow-off. But I'm certainly no expert. Though I did stay in a Holiday Inn Express last night.

 

Did you eat a donut also? (Haha, sorry, it made me think of this particular commercial.)

 

I don't get it...blow-off? holiday inn?

 

No top here.

We've been stair-stepping for a Wow!-long period of time. We were due for this, today. The SPX option market has been fat on the top side for 2-3 days. (Not that *I* took that sage advice......)

I wouldn't be surprised of we camped out right here for 10-14 days, and then did another surge.

 

Even if it pulls back 40 points does that mean it topped?

 

I went ahead and lightened my stock ETF load today as part of a rebalance.
Now if everyone did that it should be very interesting tomorrow...

 

No signs of panic buying -what blow off top? So far every single person calling a top over the last 7+ years has been dead wrong.

 

Well if you call a top every day you're bound to be right sooner or later.

 

High volume , closes near the top of the range. A top ??
A small to moderate pull back , sure, but then its back on the up elevator.
Better use a tight stop on your short.