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#11 redfoliage2

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Posted 29 November 2017 - 11:40 AM

 

 

 

It's good to see you folks finally get bullish and not short the market, for a change. Maybe a major top is in making.

There will be a major top, but it's a little early to focus on it now.  The mania is still on full force..............

 

If the tax bill passes the Congress (I see it a 90% likelihood) I expect another 5% upside for SPX and then a major top may be around Feb/March next year.........

 

 

Let's see if you will remain bullish until March. I doubt it though.

 

I'm a trader and I'm sure I will try to take opportunities on ST ups and downs.  However, if for some unexpected factors the tax bill fails to pass, then we may be seeing the top.............


Edited by redfoliage2, 29 November 2017 - 11:42 AM.


#12 Geomean

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Posted 29 November 2017 - 12:05 PM

There was an hourly TD Combo sell signal in the SPX this am at the high which recycled when the TD Sell set up 9 cancelled it on the next bar.  The SPX hit the 1.382 extension of the sum of intermediate waves 1~3 yesterday and slightly exceeded it. There will be a price flip short entry signal if this hourly bar closes at 11:30 CDT below 2625.18.  My sell stop entry order in ESZ17 was triggered @ 2623 about 15 min ago and my buy stop entry order was just triggered in TZA @ 12.23 for modest initial positions.  Not going to risk much here, so the stops for now were set using the 10 min charts.  TWT


Opportunity knocks on your door every day-answer it.

#13 redfoliage2

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Posted 29 November 2017 - 12:19 PM

I'm out of GS and JPM with a profit.  VST I see the force is pushing market lower ...............


Edited by redfoliage2, 29 November 2017 - 12:19 PM.


#14 Geomean

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Posted 29 November 2017 - 12:20 PM

The Hurst 40 day high window hits in this time frame.


Opportunity knocks on your door every day-answer it.