Based on the extrapolation of my resistance calculations for the rest of the week, I believe that there is a 75% probability that the market puts in a top later this week. If the market moves up over the next 4 trading days, the likelihood of a top increases significantly and if the market sells off over the next 4 days the likelihood of putting in a top later this week decreases. If Ty is right and the market gets up into the $1715 to $1720 area sometime tomorrow, I think there is about a 95% likelihood that the top is put in tomorrow. Pud, don't bother responding to this post, I know you think that the market behaves in a random way. Sit back, be quiet for a change and actually learn something this week.
Huge resistance here for dow futures. Es doesn't seem to matter much but 15550 was a very difficult level to hold last two to three months. You can tell there is a big seller here. The only thing holding up the markets are the trading desks of the big banks and the swiss market here.
Volume is anemic and no euphoric moves. unless that happens, can't even think about calling a top. You might disagree, but as long a RUT keeps setting new all time highs, the S&P will follow. Small caps/Transports tend to top out first (check out all the previous major market tops). I still think we see 1760-1790 before 1670 or lower.
Jealous losers are always (at any century) are #$%$ off by the people who are better than them and this hysteria after every Eye's (real one) post is comical. This borrowing of "brand" name - kindergarten circus by little boys in the skin of grown men.
If you idiots took any lesson form this guy - instead of rabid jealousy - MAKE your own indicators. Market lives by unexpected events. Only little known indicators can be predictors. Well known tricks only mislead - market will most likely overshoot or reverse before the expected level and throw you off balance psychologically, with all follies to follow. Spend not less than a business day searching for ways to analyze market, borrow from good traders if needed. TRADE SELDOM and only low risk trades, after a few day of analysis and in a few weeks time frame. Hedge properly in order not to be afraid of holding a position overnight for 4-6 weeks.
These are my lessons for this summer observing Eye's style.
shaving points off your original top call?
what if it trickles lower short term and then sells off hard?
or just grinds higher for another month?
a new alias? lol
you missed a *CLASSIC bottom (totally missed it) and * CLASSIC top ( way early on short and way late on your cover)
you no guru...just saying
i don't have a problem with your postings ..carry on.
* high volume intraday reversals
You are an annoying #$%$ on is board but I have to give it up to you on your calls the last couple weeks. If only you saved some energy attacking other idiotic posters and stuck with your thesis....yes I know you will attack this post because I'm using a fake nickname....the reason I use this name is quite simple...you've developed sme notoriety since you post 30 times a day so why not take advantage of the brand....like the guy that sells fake iPhone cases on the street