FX:SPX500   S&P 500 index of US listed shares
3269 48 69
We broke all this year's high on Friday at the NFP data.
Just one resistance zone in front of us: 2015 May high. 10 points from Friday close.
My suggestion is DO NOT TRY TO SHORT FROM HERE.
Even if it worked at the last 7 times most probably this time it will not.

If we break the 2015 May high there will be a terrible short squeeze I wouldn't be surprised if price rallies to 2300             in a week or 2...

Comment: We are at all time highs.
Very exciting.
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Comment: The problem with breaking to new high is you simply cannot predict when bears will realize that they are in the wrong direction. Once they do all of them wants to exit the trade. So not bulls are buying the dips but bears.... This is coming now I think.
Comment: In the night we tested back the breakout of all time highs.
And now we are at new high again.
I think today could be the day when bears starts to panic....
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Comment: Bears are in trouble...
That's what I was afraid of: no pullback.
Comment: Someone told me last week I'M not looking at the big picture.
Now I looked at it:
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Comment: And I'm more bullish than 3 days ago...
Comment: Again:
this is the time to buy .
If you have short this is the time to bite the bullet and close it.
This is not going to be better.
It broke to new highs and running. Breaking almost 2 years of consolidation.
Will there be red candles ?
Yes . There will be. But we are not going to have a flash crash.
The freshly printed billions are flowing into the stock market.
Take a piece of this big cake.
Comment: Strong trending move is supported by 10 EMA.
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Comment: As I'm watching my 3 monitors I have a feeling that today we will have a small down day.
-1% maybe... It could be used for adding or enter into a position at the end of the day.
We will see...
Comment: Don't freak out ! Bears will call the end of the world today.
It's just a pullback after 8 days of monster rally...
50 EMA or breakout test.. WHo knows?
It's another adding point for me.
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Comment: LOL.
It seems USA had lost its faith UK.
The government forced Goldman to buy the index at the premarket.
3 thing is sure on this world:
Death, Taxes and market will not fall before USA elections.
Comment: ***in the UK***
Comment: It's just a guess but I think BOE will not cut today.
In the night the USA futures were pulled up hard.
I think the Govt. wants to have some room for a little falling. They just don't want price to fall below the 2015 May high once we broke above that.
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Comment: "BOE surprises by leaving key rate unchanged"
No surprise for us.
Well said!
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You deserve credit for being consistently bullish. I expect minor corrective activity before the big push but who knows?
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Your work is very good and I appreciate and read all your ideas.

I looked up the Commitments of Traders Financial Traders (TTF) Report for the S&P 500 Index September 2016 (SPU16) on BarChartdotcom.
The commercial speculators and large speculators closed most of their futures positions on last Tuesday. I don’t have much experience with this but fewer open positions preceded the December 2015 S&P 500 decline/correction. I am staying out of equities for now. I agree there will be a jump up but I wonder if there will be sustained high bullish volumes. I am in the global crash camp and don't need to take any short term bullish (or bearish) positions. The jobs report was not good in the larger picture (it was like lipstick on a pig). I mean this all very respectfully to you.
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everyone is bullish.... the number one bear indicator.... which the fed has repeatedly used to slay them!
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Nightstar Fitzndahyouwz
You're wrong on this one Fitz. Most 'retail traders' and so-called 'analysts' have been calling for a bear Market in the S&P all year long and managed to miss the bottom in Commodities.. Only a very small number of astute traders know what's going on and will benefit from it :)
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Fitzndahyouwz Nightstar
Hi nightstar I'm not exactly speaking to long term, more the tug of war on the way there.
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traderzaius Fitzndahyouwz
no such thing as a triple top..... this baby is about to hit new highs
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Fitzndahyouwz traderzaius
If everyone knows we are going up then why are there so many shorts in the market, many entering end of day Friday? I'm not a bear, I trade the market.
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traderzaius Fitzndahyouwz
The shorts give the bull even more fuel.....when they cover!!
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Good job. One more resistance and we will see...
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the breakout is coming!!!
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the trend is your friend, be a trend follower not trend predictor, could provide same result on your gold trend prediction rather following the trend. Painful, indeed.
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you can forecast trends with cycles analysis, sentiment analysis, and Elliott Wave (although not as helpful as the other 2)
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Quant traderzaius
leave the forecasting to econ and central planners, after all they have great record. cycles are are cycles business etc just like hurricane season greater chance for one during june 30 to end of october but forecasting is not the same as trend following thats my view and wrong on spx breakout wrong on gold. imposing you will on the market can be very painful. thats twice. learning from ones experieces is a good trait. ride the wave know the character of the market. its one thing to be wrong its another thing to stay wrong bc of ego
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With Italian banks collapsing, eu gdp forecast cut by IMF, tug of war started between eu govts and eu commission, from where does the steam comes for bulls ? I predict a bear market here.
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If all the buyers are already in, who is there to buy more? I do not believe prices will go higher, I in fact recommended shorting. But with everything time will tell. Let's watch!
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Nightstar caputo.philip
I'm not sure you understand the one and only Fundamental driver here.. Central banks continue to print too much money and negative interest rates are becoming the norm. This will invariably lead to a bubble in the Stock Market -- that's what's driving this baby!
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thought the break would be a powerful move - im a bit disappointed :)
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A lot of ppl still trying to short . They will realize soon that the direction is wrong.
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Trendhopper chartwatchers
Where do you enter though ?...you would be mad to enter now....RSI 61...
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If you wait for a pullback don't do that. Because there is a possibility there will be no pullback.
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Trendhopper chartwatchers
Too risky for me here....would rather wait for the pullback (on 4hr chart, looking for symmetry) or stay out...either way i don't lose....buy low/sell high....!
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There might not be a pull back these days Japan and EU markets might lead/push US markets further. Those quite oversold and still recovering generating positive news. Oil might also help for a couple of days.

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short is the best solution here, , go long and u will burn yourself
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Nightstar BjornPfaff
Aaaand he's back.
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pjchch BjornPfaff
please go back under your bridge
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Will spy breakout raise oil up a lot?
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OIl shares will be up I think. And oil will move down into the DCL.
But this is the reason - S&P-Dow breakout - why oil will not fall too much.
When everything is going up why would oil go down to 20$????
That's the reason oil bears will be wrong. We just need their shorts for the next leg up.
During the next oil rally - maybe starting in 2-3 weeks- oil shares will go crazy. I will post a lot of charts before that.
Individual shares with 4-500% profit in 2-3 months.
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ahneo PRO chartwatchers
thank you..
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ahneo PRO chartwatchers
would ERX be a good choice for the rally? thanks..
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How far bullish are you in the short term?
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ok i just bought right now! I've never bought this much before. Kinda nervous!
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what did you buy?
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