possible head/shoulder forming here at the top. I DO NOT use intraday head/shoulder for confirmations. But here this complements other stalling indicators for topping moves.
do you think we see 875 today? or another bounce off 882? Or slice through 875 to 850?
I am excited to be able to get in around 894. I had sold out the position at 924 out of fear of 950. But now, I am simply going to average down, if needed. Got to recover and make some in this leg.
fyi http://www.stocktiming.com/index.htm There’ll be a special post tomorrow morning before market open: Institutional Buying and Selling Trend from www.stocktiming.com, as I believe it’s the time to pay visit to this chart. (I don’t have today’s chart yet, so have to wait until tomorrow) Bellow is the chart for May 12, where the distribution was already at a critical point.
added another chunk a little bit ago. Quite difficult to say from here. It is possible for this to get pushed through 900 and run a lot of stops which would make this close today at 907. Not likly but needs to be considered especially if you are quite short like most of us.
I am also short via futures for a sizable amount with a VERY WIDE stop loss yet again. Have a large SPY call order ready in case it all goes nuts here.
remember. Its MAX PAIN for bears and bulls on either side. That's what the market does best. Make you doubt yourself and make sure that you are scared, being a bull or a bear.
Are you out of your longs now or are still holding on and if you are, when are you going to let them go?
ReplyDeleteexited long at 892 S&P500
ReplyDeleteswitching to short setups now.
ReplyDeletepossible head/shoulder forming here at the top. I DO NOT use intraday head/shoulder for confirmations. But here this complements other stalling indicators for topping moves.
ReplyDeletewhat is GEW? I am not abe to get quote
ReplyDeleteoption for GE
ReplyDeleteThanks
ReplyDeletedo you think we see 875 today? or another bounce off 882? Or slice through 875 to 850?
ReplyDeleteI am excited to be able to get in around 894. I had sold out the position at 924 out of fear of 950. But now, I am simply going to average down, if needed. Got to recover and make some in this leg.
TICK is looking mighty strong to be a dying patient.
ReplyDeletefyi
ReplyDeletehttp://www.stocktiming.com/index.htm
There’ll be a special post tomorrow morning before market open: Institutional Buying and Selling Trend from www.stocktiming.com, as I believe it’s the time to pay visit to this chart. (I don’t have today’s chart yet, so have to wait until tomorrow) Bellow is the chart for May 12, where the distribution was already at a critical point.
900. i see neg. divergence. Chrsi, what do you think?
ReplyDeleteadded another chunk a little bit ago. Quite difficult to say from here. It is possible for this to get pushed through 900 and run a lot of stops which would make this close today at 907. Not likly but needs to be considered especially if you are quite short like most of us.
ReplyDeleteI am also short via futures for a sizable amount with a VERY WIDE stop loss yet again. Have a large SPY call order ready in case it all goes nuts here.
remember. Its MAX PAIN for bears and bulls on either side. That's what the market does best. Make you doubt yourself and make sure that you are scared, being a bull or a bear.
ReplyDelete