My longer target for SP500 $SPX is still 1535. That should equate to a 50% drop, which means we are very near THE TOP for the market, at least for the next several years, possibly decades. My target price is currently slated for early 2022, but could come as soon as July 2020.
$SPX 2987.8 is another important number for me--interesting it contains the numbers "29" and "87" two of the most important years in stock market history. Any stall at that price would be my cue that a major "top" has formed again.
@SallyMayweather Do you believe in medicare, or "social security"? Do you believe in paying taxes? Hate to break it to you, but those are all socialist programs, BY DEFINITION. A little bit of education would go a long way.
@SallyMayweather Really demonstrates a complete IGNORANCE of the way economics works. Capitalism is the engine of growth, but the logical mathematical conclusion of capitalism is where ONE ENTITY owns everything. Socialism is designed to keep capitalism in check, certainly not a substitute for it
$SPX call options are getting way too much play, however, and $VIX does look like at least some kind of near-term bottom is close. That "tiny" pullback may end being not so "tiny" after all. Tight stops on any long positons + strong hedge with OTM put options expiring in April.
$SPX target of 2778 exceeded, no reason to short any more until definitive $VIX bottom is identified. There will probably be a tiny pullback in stocks in the next few days and the upward trend will resume.
In the face of increasing recession warnings the past few months the market just tears upwards, so if history is any indication, you don't sell stocks until the talking heads tell everyone the coast is clear & things are rosy.
The $SPX magic number for me is 2777. A 25% drop from there will take us back to the 2016 election night when the futures market was mysteriously interrupted by a "magic hand": yes, 2084 is where I believe we are headed unless we can decisively break 2800 and stay there.
$SPY getting ready to form a bottom for the day, probably another BS surge upwards for absolutely no reason other than to break the necks of shorts. The real shorting opportunities will not come until the news cycle is more rosy.
@djkendin Bullshit waste of time at best--at worst, a dangerous book that manipulates gullible people into committing acts of violence against random people (Nazi party believed in stuff like this)
Didn't get the reversal in $SPY today, and $VIX still has room to go just a tad lower. Need to roll put options out a few weeks as this rally may go on another couple days, but the #marketcrash lines are still valid
The imminent impeachment of Idiot Orange, the constitutional crisis that ensues, and further signs of economic slowdown will all be used as the "excuses" to sell down the market. Should see good ST buying opportunities at each of the bounce lines, particularly 1545 on the $SPX.
I haven't calculated yet, but lower $SPX targets of 2400, then 2100s, and finally 1810, are all in sight. Each of these could have significant dead cat bounces, but ultimately the target is the 1545 area, on the Multi-Decade support line. This should all happen by early 2020.
@SpeakerPelosi@realDonaldTrump Nancy, just provide that imbecile some kind of initial "down payment" on starting the wall, and a provision to have the balance of the funds needed for its completion to be voted on at same future date. We can only minimize the damage his idiocy causes this country.
This looks like the BIG TOP (yes, I know like the 10th time I've called it in past few years). However, if $SPX 2933 is NOT broken by tomorrow, then this could be the top for MANY YEARS to come and you can short this pig at will
Fuck your wall. Split that 5 billion between at-risk children who donโt have lunches and vets who canโt get proper medical and psychological treatment. Fuck your vanity project. Do something good for once.
@AnnCoulter You've been on this Earth for what, six decades now? In that time, there is not a single instance on record of you making a factually accurate statement. Lies and hypocrisy that serve to spread division and hate. Shame on you.