The S&P has topped

Discussion in 'Trading' started by volente_00, Mar 1, 2017.

The S&P has topped

  1. Yes

    39.0%
  2. Hell no you are smoking crack

    61.0%
  1. Gotcha

    Gotcha

    LOL... It could have been as simple as a trendline. If you connect the two highs on the daily from the high at 2400, the high today was pretty much right where the trendline touched.
     
    #441     Apr 5, 2017
  2. volente_00

    volente_00


    Covered remainder at 2341
    And am now long from 2341

    Stop is 2333
    Objective 1 is 2356.75
     
    #442     Apr 5, 2017
  3. volente_00

    volente_00


    Nonsense
    Ta does not work
    :)
     
    #443     Apr 5, 2017
    Gotcha likes this.
  4. volente_00

    volente_00

    Closer to a top than a bottom so you have to nimble with any long trades
     
    #444     Apr 5, 2017
  5. volente_00

    volente_00

    Flat 2349.5
     
    #445     Apr 6, 2017
    noddyboy and Builder17 like this.
  6. Pekelo

    Pekelo

    For the NDX there was already...
     
    #446     Apr 6, 2017
  7. Buy1Sell2

    Buy1Sell2

    They weren't talking about NDX and the data was from Mid March.
     
    #447     Apr 6, 2017
  8. Pekelo

    Pekelo

    Compared to mid-Mach even the SPX had a 2nd top yesterday (only 10 pts lower than previous) although the daily Bollinger was 8 points higher, but you can't get always what you want.

    The point is, yesterday was as good as it gets for a 2nd (SPX) or 3rd top (NDX).
     
    #448     Apr 6, 2017
  9. Buy1Sell2

    Buy1Sell2

    I think the article was referring to new all time highs, not second and third highs lower highs. Current high was registered Mar 1 ( the day I took profits).
     
    #449     Apr 6, 2017
  10. Pekelo

    Pekelo

    Markets move together but not always reach the same highs. As I said, at least one of them the NDX had a new all time high and this is as good as it gets.

    We topped for the next few months at least if not for the whole year, period. There was even a dragon formation on the daily NDX, the math gave 5520 as top, we only reached 5480, nothing is perfect.

    If you are long I suggest you flip to the short side...
     
    #450     Apr 6, 2017
    Buy1Sell2 likes this.