FX:SPX500 S&P 500 index of US listed shares
In Jan 2010, the market had had a good run from 666 to 1150.
Then came some noise about what could happen in Greece... the market corrected a few weeks 8.5% and then rallied hard to 1220 for 3 months into what became the top for a long while.
The sequence is repeating:
- SPX is on heavy top since Nov14. Agitated and unable to climb.
- The potential Grexit scenario is all over the news again.
- I can see the market using any catalyst to breath to 1930/1880 and launch a 3 months rally to new ATH circa 2140 which woudl probably call for a 20% correction into year end.
I have the growing feeling:
1 - 2015 is a trading year.
2 - 2015 is going to end up badly after a last potentially strong rally.
so. Please if your view is not strong enough to trade, no need to mention... Btw it is obvious that there people disagreeing at every price otherwise there would be no transaction... I know there are buyers out there... actually i hope there are buyers out there and that most people want to buy... market does not do what most want... Rather the contrary..