Not really I got margin called at 2050. I exited my positions and I haven't put a trade on since, as I'm still bearish
It's looking tougher and tougher to be in the bear camp, NAZ busting 15 year highs, DOW scorched through the descending trend line resistance and SP500 just smoked the massive rising trend line (resistance) today (now support again), currently right on 100% retrace of the August plunge! Impressive performances from the US markets. Perhaps we'll see SP500 take on it's all-time highs just above 2130? The TA pattern does look a bit 'bat'-like though
The SPX 500 does look strong. It is easy to find divergences in any action, anyhow here are some reasons to be bearish of such a strong SPX500
Divergences,
Add other indexes if you like, oil is in a trading range as well. A shorting opportunity could be if the SPX goes above the 2135 and the Russell2000 and DOW transports are about to touch the 200MA. I'm waiting on the sidelines and I will want to see other signals to go short.
Another idea: If we breach 2135 on the SPX and make new highs for a month and the other indexes follow, there might also be an opportunity/divergence to buy Auckland property as it is held back by intervention.
Volatility and selloff in stocks during months of August and September created some great buying opportunity. Recently some stocks hit their all time high as well. There are more legs for global stocks.
Looking deeper into the S&P 500 rise back up to near record levels shows signs of worry...
The chart below the S&P500 chart is NYA200R This chart measures the percentage of the 500 companies that have their share price above their SMA200 (simple moving average of 200days)
As you see, over this past year there are less companies (only 34%) contributing to the S&P500 bull market cycle...It's often stated that a stock is in a bear market status when it's price
breaks below the SMA200 line
Wall St triggered get out warning..before the Paris Terrorist Event
My GET OUT WARNING has been triggered.
If the Wall Street Equity falls on Monday the American media will blame it on the Paris Terrorist attack....
Paris will have a negative effect, but it was not the root cause of the Stockmarket weakness this time around...My "Get out Warning" indicator was
triggered before the Paris Terrorist Attack**
**NOTE:....The Paris Terrorist Attacks started at 9.20pm which was 4.20pm in New York
Wall St bell is rung at 4.00pm..
Originally Posted by kiora
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