FX:SPX500   S&P 500 index of US listed shares
3271 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.
Boss, very good prediction,,,,
Reply
adding point is you buy pullbacks like these?
Reply
youve been right about this. i hate stocks. i think oil stocks are really over valued but I dont like fighting the fed. I see oil going lower. at what point does oil become a risk in the mind of an equity investory ?
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Do you still prefer long?
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Yes . I will be adding today at the bottom.
While gold finds the DCL S&P will rally. 5-7 days...
+2 Reply
Bearbud chartwatchers
Can you update thoughts on adding to this position or will there be a pullback first. Thanks!!
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Just got September SPY Call option at the open. So far so good. ))
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marketpundit marketpundit
Closed position (sell to cover) +22% . Thank you Apri! )))
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marketpundit marketpundit
sell to close* rather
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chartwatchers PRO marketpundit
Cool! :)
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