FoggyLights

SPX500: Too Many Emotions

FX:SPX500   Indeks S&P 500
Dilihat 180 kali
13
180 3
People are way too excited. 2400 was a widely accepted target supported by some tax-related calculations. Will we continue climbing up? It's possible, but some range movement is more probable since the main target has been hit.
Komen: As I pointed out in my previous post, the enormous gap on SPY shows the huge degree of the market non-participation in this move today. This is not how a sustainable advancement is typically built. Just an observation. Now combine this fact with the after-hours action on SPY.
Komen:
some pullback targets if we get any, the lower ones are at pivots
Komen: take off some good profit at this 1st target, don't fall in love with the fall
Komen: i'm in favor if this being the low of the day
Komen:
Komen:

i just went long and watching this, still have some shorts from yesterdays, but mostly covered
Komen:
Komen:
game plan for the rest of today
Komen:
Komen: so they forced me into a neutral position and now i'll wait for extremes to close one side at a time, might take a while, not a day trade anymore, but i'll go on with other positions, lol cats
Komen:
http://www.nasdaq.com/symbol/spy/after-hours

now this is insanely huge volume after hours (3 - 4 times more than average) + tells a lot about what is happening "behind the scenes"
Balas
What are these tax calculations?
Balas
FoggyLights SwingDow30
@SwingDow30, There is a lot of info available on the internet on this subject, but I recommend "Ask slim market week" where Steve Miller explained the math behind the S&P target a few weeks ago (I don't remember the exact date): https://www.youtube.com/channel/UCoAuxtwgh8LSHeMFqEwjgHA
Balas
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