chartwatchers
Short

S&P 500 - New high with too many divergencies

FX:SPX500   S&P 500 index of US listed shares
1927 7 52
S&P             has broken to new highs, but I see too many divergencies...
We had a 29 days of rally and it seems the higher high will not be holded.

That is the main reason I closed my S&P 500 Index             longs.
We just wait for a healthy pullback - maybe the testback of the breakout and enter with longs again.

I set this idea as a short but I'M not going to play this on the short side.



Comment: Taking profit on half of the position (2169)
Comment: Unbelievable. Not that we got out half of the position at the exact bottom. The fact that the market is under control of the powers and simply cannot fall.
I will close the rest of the position tonight. We are fighting with our shorts as ants against the elephant.
snapshot
Comment: After yesterday's and day before yesterday's move I feel strength here.
So I don't want to sit in the shorts anymore especially when oil shares are breaking out.
Closing the other half of the short position at 2178.
Trade closed manually
Can't short the printing press.
Reply
Are you going to close your short position on the Nasdaq 100 as well?
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I follow an economist that loves cycles and capital flows. According to him, the "flight to safety" of capital to the US is providing a ton of support (not to mention the free money of QE infinity everywhere in the western world).
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What is the name of economist?
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Just chugging along the trend line... I've lightening up to have some cash on hand when that "healthy pullback" happens.
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Seems to be hard to get a significant correction, lots of resistance.
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Smart not to short against the US election cycle....
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