All the way to the first week of Dec. People and taking profit, and a lot of them will be at least somewhat nervous about the Fed's Dec meeting.
Then we will re-test the all time high during the Christmas rally (a.k.a Big Ben no tapper rally).
I think in a broader scale, the top is in. Inflation is picking up overseas. The US is about to feel its impact very soon. The bond market has been quietly expecting the taper (effective rate increase, whether you call it taper or not) for quite a while.
SPY is holding a flatline. Penny-wise upward move is computers trying to trick you into buying. I have confirmed the sell-off at 12:37 is real.
Waiting for the "flash" downward movement at minute from now.
Folks, I don't care whether you are a bull or a bear, but can someone confirm a big lot sell order at around 12:37? I don't want to be fooled by a tech-glitch of my broker.
Watching my trading account swaying 50% day by day really feels like in the casino.
As Bill Gross (when he was still young and smart and somewhat honest) said, you have to bet big when the odd is in your favor. That's the only way you can beat the house (read: the fed and the big ben).
It is due to the false confidence that they have the super fast trading machine therefore can sell in front of other bag holders in case the sell-off starts.
And that's a perfect setup for a quick sell-off. The exchange will be jamed and no one can get out. An ordered dump will be put into place and you have quite a few trading house blow-up.
That's what will happen this year. If you don't see it coming, you are in denial.
And that's the only reason the market is still up.
Buy further month (July and forword) puts. Don't play the day to day or week to week game.
These jokers and their trading computers are trying very hard to pull Dow above 14000.
The dumping might as well start this afternoon. All it takes is one "fat finger" touching the sell button by mistake.
What you said is not very acurate.
Anyway, with thin volume and robo trading, you have take the technicals into account. At the very least, today is Friday and the first day of Feb, so the rally is here to stay (for another day).
No more news, good or bad, to drive this market further.
Silent dumping started next week. Sheeples will not be alerted until it is already 500 points away. Watch the media to play dumm for the rest of this month.
SPY will bounce up and down between 152 and 142 till the end of Feb. The only trade in town is to short UVXY and its relatives on each pop. Then it probably will move to 160 level.
The market needs more than one week to top out. The real crisis will start to emerge in late summer, when run-away inflation becomes a reality and when Big Ben signal he is longer able to print.