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.