If you trade ES

[j.n]

...You might want to get hella short right now because of reasons. This is truly a low-hanging fruit in my book.

 

[kalott]

 

[j.n]

I, uh, take it you do not concur...

 

[j.n]

This is a long-term, probably multi-day target, BTW. You "might" need a smidgen of risk tolerance to do it properly. But, I pretty much see this as the top, if not the tippity-top for the foreseeable foreseeableness. At the least, I see it down 30. At the most, around 60. (Like I said, long(er)-term.)

 

[kalott]

sp500 240 min

 

[j.n]

sp500 240 min

So, would you be looking for a breakout from that shelf to affirm a short position?

 

[kalott]

So, would you be looking for a breakout from that shelf to affirm a short position?

yes

the best thing would be if it breaks out on the upside and then reverse down (black line)

that would be the end of this bearmarket rally

maybe

 

[j.n]

yes

the best thing would be if it breaks out on the upside and then reverse down (black line)

that would be the end of this bearmarket rally

maybe

Right - it's not "if," just "when" and I say pretty damn soon. Will it test the November highs again? Last May's highs? Very well could, but I doubt it personally.

 

[piphoe]

3rd option -break out upside keep on going that's best option :clap:

 

[j.n]

3rd option -break out upside keep on going that's best option :clap:

In which case I would just lay down a few more shorts. It's about to get heavy, yo.

 

[piphoe]

18,000? :|

 

[j.n]

18,000? :|

Do you think it has enough juice to get there before we see a bit of a downside? Well, even if it does, I have a plan.

 

[j.n]

It looks pretty frickin' giddy right now, I'll give you that. Higher lows galore.

 

[j.n]

It just hit a nice, magic number - and if downward is correct, I can't imagine it going much further to the upside from here.

 

[piphoe]

It just hit a nice, magic number - and if downward is correct, I can't imagine it going much further to the upside from here.

You're short may also get helped out by the bad world news and uncertainty

But, then again maybe already discounted.

 

[piphoe]

Must admit I'm a bit surprised the S&P isn't looking weak in the face of today's news.

 

[Groundhogday]

I too see it falling from here after the run it's had. See the Dow at <17000 again before April with Oil retracing for a short while before the next leg up.

 

[piphoe]

2090 isn't so far fetched.

 

[j.n]

Must admit I'm a bit surprised the S&P isn't looking weak in the face of today's news.

Just goes to show news is overrated. :whistling

 

[j.n]

I think it has all but commenced at this point. This one looks like a keeper.