SPX: Could this be a market top for a few months?
Updated
I'm holding longs in precious metals, and also long individuals stocks with interesting valuations and trend signals. That said, I'd like to hedge my exposure to the market by shorting 
SPX, and this might be a good chance to do it. It might be a good time to have a long/short strategy. The stop loss is tight here, if the setup works, it can be a good r/r trade. Downside of 15-20% worst case, best case, we barely go sideways and end up chopped out of the short, before the market resumes the rally.
Cheers,
Ivan Labrie.
SPX, and this might be a good chance to do it. It might be a good time to have a long/short strategy. The stop loss is tight here, if the setup works, it can be a good r/r trade. Downside of 15-20% worst case, best case, we barely go sideways and end up chopped out of the short, before the market resumes the rally.Cheers,
Ivan Labrie.
Comment
Order cancelled
Not yet!Comment
SPX could hit between 2739.1 and 2768.6 by Jan 16th or earlier, and then top in the daily timeframe. With institutions talking about a 'melt up of 60%' coming, I start to worry since they have been bearish all the way up... Comment
Blow off top forming?
I can easily see it rallying for a while longer, but I'm already hedge, holding exposure to miners, gold, silver, energy...and a long duration bonds position.
Comment
I was right about the time for the top, I sold all to cash at today's open, and have been selling stocks that correlate the market a week ago.
Comment
Still on the right track, read timwest 's yearly forecast for more details.
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