Shorting 2180 stop 2196.
Market action on Friday was conducive to top and todays open confirms it for me. I didnt expect the weekly trend line on Spx to cause this but I just react. Typically this gives like 5 day 80 point decline or so. We shall see.
Market top seems likely
Started by
Bearearns
, Jul 08 2019 08:36 AM
18 replies to this topic
#2
Bearearns
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Posted 08 July 2019 - 08:45 AM
The low at 2975.75 needs to go for bears
#4
Bearearns
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Posted 08 July 2019 - 09:14 AM
May try 2988 area stop 2995
#5
Bearearns
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Posted 08 July 2019 - 09:26 AM
Shorting 2982.5 stop 95. Walking away. 2960 es is target and more potentially
#6
fib_1618
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Posted 08 July 2019 - 11:49 AM
Suggest you sit on your hands, you're way too early...maybe early September?
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
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#7
relax
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Posted 08 July 2019 - 12:32 PM
fib, you dont think it closes gaps at 2940 and 2900...maybe a st move before higher
#8
fib_1618
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Posted 08 July 2019 - 01:03 PM
fib, you dont think it closes gaps at 2940 and 2900...maybe a st move before higher
Anything is possible, of course, but the odds of this happening at this time are very low given the high amounts of liquidity the market now enjoys.
Better to go with the path of least resistance than to arbitrary decide when enough is enough...the market will eloquently tell you when that time is.
At this point, if you're either a swing/day trader or scalper, I would wait until 2958 is hit before even entertaining a short, otherwise, you'll likely lose more than you'll gain...and the effort will be twice as hard.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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#9
relax
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Posted 08 July 2019 - 01:50 PM
thank you for your effort and thoughts
#10
opinionated
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Posted 08 July 2019 - 10:48 PM
fib, you dont think it closes gaps at 2940 and 2900...maybe a st move before higher
Anything is possible, of course, but the odds of this happening at this time are very low given the high amounts of liquidity the market now enjoys.
Better to go with the path of least resistance than to arbitrary decide when enough is enough...the market will eloquently tell you when that time is.
At this point, if you're either a swing/day trader or scalper, I would wait until 2958 is hit before even entertaining a short, otherwise, you'll likely lose more than you'll gain...and the effort will be twice as hard.
Fib
Fib,
You mention 2958 before considering a short, Thanks for throwing a number... May I ask your train of thought there? At that price point it may turn your TA to bearish? I only ask for clarification because from 2995 I have been seeing, saying my TA points to a test of the 2950-2955 area for a bottom on this current cycle low. With a very powerful rally from late this week going into the third week of this month. Targeting 3035-3045
I respect your TA as much as anyone I've read over the years so I ask am I missing something?
Thanks
O
