Shorted SPX at 2700 with stop at 2709.1
Inflection point
Started by
NAV
, Feb 15 2018 10:55 AM
22 replies to this topic
#2
NAV
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Posted 15 February 2018 - 10:57 AM
This is a key resistance and key bifurcation point. The market should accelerate here and follow thru. If not, i will be looking at a stop and reverse trade to the long side.
#3
NAV
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Posted 15 February 2018 - 11:54 AM
Stopped out. 2727.5 remains the key pivot. Until that's taken out this is a bounce, which can abruptly reverse anytime. Above 2727.5, i will start looking to buy dips.
#4
q4wer
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Posted 15 February 2018 - 11:55 AM
today or tomorrow is a top, i think.
#5
Waver
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Posted 15 February 2018 - 12:01 PM
I know you mainly look at the SP500, but the Nasdaq already took out the equivalent 2727.5 level. SP500 and DOW came close.
Might be a decent indication it will break 2737.5.
That being said, have to follow your own rules. The rules have made you a lot of $.
Might be a decent indication it will break 2737.5.
That being said, have to follow your own rules. The rules have made you a lot of $.
#6
NAV
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Posted 15 February 2018 - 12:04 PM
I know you mainly look at the SP500, but the Nasdaq already took out the equivalent 2727.5 level. SP500 and DOW came close.
Might be a decent indication it will break 2737.5.
That being said, have to follow your own rules. The rules have made you a lot of $.
QQQ is wild. I trade it very rarely.
Nothing comes close to obeying technical analysis as the SPX.
#7
fib_1618
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Posted 15 February 2018 - 12:40 PM
today or tomorrow is a top, i think.
The idea here is to teach a lesson (punish) to those near month put buyers and have those trades expire worthless.
Happens like clock work every month....especially when it "feels" like a crash is in progress.
Fib
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#8
redfoliage2
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Posted 15 February 2018 - 12:45 PM
SPX forming a Doji on the daily chart. I see a ST top here.
Edited by redfoliage2, 15 February 2018 - 12:45 PM.
#9
CLK
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Posted 15 February 2018 - 01:02 PM
today or tomorrow is a top, i think.
The idea here is to teach a lesson (punish) to those near month put buyers and have those trades expire worthless.
Happens like clock work every month....especially when it "feels" like a crash is in progress.
Fib
I thought a five waves down was impulsive, meaning you need at least a B wave and C to finish the correction.
Looks like you are saying 5 waves and back to new highs.
#10
redfoliage2
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Posted 15 February 2018 - 01:10 PM
SPX forming a Doji on the daily chart. I see a ST top here.
But if SPX closes today above 2720 then it can still go higher.................
