The TOP is IN !
#1
Posted 22 May 2013 - 04:55 PM
10/11/2007
03/24/2000
and TODAY !!
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
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#2
Posted 22 May 2013 - 04:59 PM
The last 2 times the SPX made an ALL TIME HIGH, THEN CLOSED DOWN MORE THAN 1% off that high?
10/11/2007
03/24/2000
and TODAY !!
If this was a top, then it would be first out of those three when we still had a ZIRP...
mdgcapital@protonmail.com
papilioinvest.com
@papilioinvest
"One soul is worth more than the whole world."
#3
Posted 22 May 2013 - 05:16 PM
Hey good stuff Mr T.The last 2 times the SPX made an ALL TIME HIGH, THEN CLOSED DOWN MORE THAN 1% off that high?
10/11/2007
03/24/2000
and TODAY !!
Not sure what kind of top but I will stick my neck out to the 20 day then 50 day after a bounce. Perhaps even the dip below that signal Which I mentioned 3 weeks ago on That Friday that it has only come in 4 times since 2000 and that Friday was 5. In the 2007 signal it was 3 weeks before the high hit similar to today. Well we know the rest. One other time in 2004 it did the same thing signaled, after which took 3 weeks for the high, then took 7 weeks to print the low. In all 4 cases we took out the low of the signal week in this case es 1573.75. Pretty interesting if it turns out to be the same as 2007 but I bet it is some where between the 2 scenarios not a 2007 type top and not a 7 week correction. Could be a Sell on May 22 and go away for summer. The potential could be to closing that gap from Dec. 2012 area. Then bang out the major top in 2015+- its all far away and pure speculation from here but fun to talk about.
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
#4
Posted 22 May 2013 - 05:33 PM
The last 2 times the SPX made an ALL TIME HIGH, THEN CLOSED DOWN MORE THAN 1% off that high?
10/11/2007
03/24/2000
and TODAY !!
Hey SEMI, you have been good timing some of these end moves, but the monthly candle is obvious that this was some sort of topping process many days ago. Tops are a process, impossible to perfectly time a monthly top, but most of this Crew around here saying ignorant things all the way through this morning.
All were/are talking this is different this time etc. New 1990's new 1982. I have never seen such stupidity in all my life. But not ONE of this come out hard and strong on a move before it happens. This is bar none the worst forum out there for the initiated or inexperienced. I would never recommend this place to a newbie. This is not gonna go straight down of course, but you mark it 845 RUT hit +- 3 months, and still hold for a red May candle very possible RUT. I have traded SO many 5 minute charts like this RUT daily, it may even retest highs (or not) no way to know for sure, but when this gets going, it will go down so much more than you think is possible, it might do it slow or fast, who knows.
#5
Posted 22 May 2013 - 06:01 PM
A little harsh there "Vic" but there is general truth in what you said. MOFWIW, we have started a long over due consolidationI have never seen such stupidity in all my life. But not ONE of this come out hard and strong on a move before it happens. This is bar none the worst forum out there for the initiated or inexperienced. I would never recommend this place to a newbie.
of some magnitude and will return to a upward move. "THE" signal has been given but from where and when has not yet been shown. I have ALL my charts indicating that the trend has weakened some but not enough to change the TREND except on the 30min, but 60 min has not. Maybe tomorrow. Time will tell.
My chart that gave a warning Monday is below. Trade well.
[attachment=20910:sc_1_17_19_38.png]
mss
Edited by mss, 22 May 2013 - 06:02 PM.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#6
Posted 22 May 2013 - 06:24 PM
but here was the post before the action today...
so far looking at swing top....
we will see how it goes in the next few days....
http://www.traders-t...howtopic=147143
Edited by andiron, 22 May 2013 - 06:26 PM.
#7
Posted 22 May 2013 - 06:31 PM
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
#8
Posted 22 May 2013 - 06:31 PM
Decisionpoint
However, the McClellan is already below zero, and at this rate it will be oversold within 3 - 4 days when we are down about 6%.
Late shorts will get burned and we'll get a searing rally again with negative divergences, then that will be the time to short big.
#9
Posted 22 May 2013 - 06:35 PM
Soared today, closed at 1.02.
I guarantee that if we get follow through selling tomorrow, millions will be screaming "Top!" and millions will be buying puts and paying insane prices for them.
After 4 - 5 days down there will be a vicious bear killing rally for sure.
#10
Posted 22 May 2013 - 06:43 PM