Breaking above 3800 seems quite unlikely, would require busting through the 1Y Peak Channel, which is no easy challenge.
I'm expecting some tight ranging for another week maybe before liquidity turns, big money (DIX) is sitting even more on the sidelines as overextension hits exhaustion.
RSI struggling to break out of 2Y downtrend too...
samitrading
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@ProfitHarvest, I heard in a news broadcast that big fund manager do not make the second best bull month of the year missy so they can get good valuation !!! for their customers!!! . i do not now if this is
true or no in reality or even possible with this big market ? but if it's to be true then we will never get any kind of pullbacks in December. they have to Waite till January, then cash out. have you heard
anything like this before ?. i have been bearish since October/ November, but every time this market proves me wrong :-(. I finally gave up chasing tops as i should've done a while a go. Moreover, i read for
a analyst saying that we just started wave 3 in November !!! what's up with that. (march's low is wave 1 then flat abc ) our target is 4600sh for wave 3 !!! HOW FAR CAN WE GO WITHOUT A CORRECTION !!!.
any way, that's just my thoughts on your idea good idea. keep up the good work.
wish you all the best.
ProfitHarvest
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@samitrading, Funds are only a bit ahead of Retail. The smartest money gonna wait for market internals/liquidity to soften and take the Funds and Retail longs for everything they're worth in some nice AH gapdowns. Market sentiment is Bullish all around, final Bears being picked off one by one, Greed and P/E ratios at big highs.
Once you've milked Bears dry, time to switch to the Bulls!
You're right though, may have to wait till Jan.
I still don't see the case for how we hold over 3680 though (5Y Peak Channel). That is where everyone should be looking before planning for SPX 4k lol.
UnknownUnicorn5511258
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@ProfitHarvest, yeah, plus I heard tonight is one of four possible nights that the Mayans predicted the stock market world crash. They were right in 2012, so Im expecting apocalyptic selling any second now.
ProfitHarvest
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@Perma_Pig, @Glitch420 is the Last Bear Standing and calling for a Black Swan event any day now.
Still lookin forward to seeing what happens on your four crash dates...
"1 -> (Dec 10th - 13th)
2 -> (Dec 28th - 29th)
3 -> (Dec 17th - 18th)
4 -> (Jan 5th - 6th)"
Just need liquidity to start drying up and we'll be set!
@Glitch420, I'm locked and loaded! Gonna be an epic Hyperspace adventure, can't wait B)
samitrading
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@ProfitHarvest, You said " internals/liquidity to soften" from your experience what is the best indicator or website to track liquidity . I searched trading view and i do see allot of the indexes
and indicators others talking about in social media. Any thoughts on this issue .
I am not reading much into the micro patterns within this range.
If we get a capitulation spike up to 3800-3850, then I'd be interested in shorting exuberance.
Until then, we are spinning our wheels and digesting gains.