Thread: The Top

We've got heavy resistance at the end of the last Santa Claus rally. And I am in the Garage, which virtually guarantees a run-up. I say we've got another 50 some-odd points and it goes to 922 before it turns around on May 7.

Lady

As of right now, my indicators are telling me to go short. That could change because I won't know for sure till about 12:30pm but you could be right Tom. If not today, I'd say tomorrow for sure.

Wow, May 7th. Lady, you been following the moonbeams?

We're heading higher. I say at least 1000 in the S&P 500. Pullbacks will be enough to keep people chasing.

If you're looking for something to sell short, take a look at the Kansas City Royals.

Originally Posted by Bullitt

Wow, May 7th. Lady, you been following the moonbeams?

LOL! Not only no, but ... um-m-m no. (Yeah, I know that's not the way that phrase is supposed to end, but I'm trying to be good.)

I do WAY to much reading for my own good and it was a date that stuck in my mind from this article:

Key Reversal Day
by Jay DeVincentis

http://safehaven.com/article-13213.htm


Have a good one, my friend!
Lady

No top anytime soon. Perhaps an SPX of 1100 and a VIX of 30 sometime the end of July - then we get a mild correction to create a whipsaw. My silly SPX target is still 1700 by the end of the year.

Originally Posted by tsptalk

I'm going to make an irresponsible prediction that the top of this rally will be this week, if not today. 882 was today's high. 876 right now.

Have at it.

I am thinking 895 for the top today or tomorrow.
Who knows....I may be a thousand points off!

Originally Posted by Gumby

I am thinking 895 for the top today or tomorrow.
Who knows....I may be a thousand points off!

Hmmm....Well that narrows it down!........

Originally Posted by Intrepid_Investor

As of right now, my indicators are telling me to go short. That could change because I won't know for sure till about 12:30pm but you could be right Tom. If not today, I'd say tomorrow for sure.

No short signal, still long......................

Ok...sorry...Stupid question here....when your indicators are telling you to go short, what does that mean in terms of TSP funds...

Short = TSP stock funds go down.

cool...thanks