SPX: Could this be a market top for a few months?

FX:SPX500   S&P 500 Index
I'm holding longs in precious metals, and also long individuals stocks with interesting valuations and trend signals. That said, I'd like to hedge my exposure to the market by shorting $SPX , and this might be a good chance to do it. It might be a good time to have a long/short strategy. The stop loss is tight here, if the setup works, it can be a good r/r trade. Downside of 15-20% worst case, best case, we barely go sideways and end up chopped out of the short, before the market resumes the rally.


Ivan Labrie.
Order cancelled: Not yet!
Comment: $SPX could hit between 2739.1 and 2768.6 by Jan 16th or earlier, and then top in the daily timeframe. With institutions talking about a 'melt up of 60%' coming, I start to worry since they have been bearish all the way up... Waiting to go short...

Blow off top forming?

I can easily see it rallying for a while longer, but I'm already hedge, holding exposure to miners, gold, silver, energy...and a long duration bonds position.

I was right about the time for the top, I sold all to cash at today's open, and have been selling stocks that correlate the market a week ago.
Comment: Still on the right track, read @timwest 's yearly forecast for more details.
would be great to see your view on silver in short-term
@Mdotee., it's quite bullish in almost all timeframes.
I'll post an update.
Mdotee. IvanLabrie
@IvanLabrie, Thank you. I am v. excited about silver in 2018. Looking forward to your update.
+1 Reply
@Mdotee., saw the gold publication?
$ES Weeklies to start: slowest oscillator 81 ~corrective to 75 before damage
Inside....2799.50 continuation/2791.50 range lift/2783.50 back fill
O1...2808.50/2774.75 loses edge, begins consolidation
O3...2823.75-2827 next strong/2755.75 range drop accleration
Same here Ivan, holding core longs and core shorts. I see volatility is returning to the market in 2018.
+1 Reply
IvanLabrie coolingla
@coolingla, surely interesting to watch it unfold.
Best of luck!
+1 Reply