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Video: Does the S&P Have Any More Upside?

October 27, 2009

Here is a new video from our friends at MarketClub on the potential top of the S&P 500. There are some pretty compelling technical arguments for this being the top…but take a look for yourself with the link below that you can also copy and paste to tell your friends about:

Video:  Has the S&P Index Topped Out for the Year?

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Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.

Written by Andrew Horowitz · Filed Under Markets, Stocks 

Comments

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2 Responses to “Video: Does the S&P Have Any More Upside?”

  1. Trader Pro on October 27th, 2009 8:31 pm

    It is also possible that this is just a normal pullback to the
    50SMA of the SP500 index.

    SPY 50SMA is about 104-105

    http://www.finviz.com/quote.ashx?t=spyEnter text right here!

  2. Trader Pro on October 27th, 2009 8:40 pm

    Pullbacks like this have occurred 2-3 times on the
    way up from the March low. The 50SMA of daily bars
    works well, sometimes better than a linear trendline
    in a volatile market.

    Your risk tolerance, and your exisiting profit cushion determine
    your "strength" to tolerate the pullbacks, or to trade tactically
    with part of your position and lower the overall position basis
    as peaks peak, and pullbacks … pullback.

    Using the 50SMA is still good trend analysis, it is just non-linear.

    Remaining profitablle is what counts, don't chase a move that is long
    in the tooth with big entries, just as you don't go short full steam at perceived
    "tops."

    Wall Street will shake you out if you let them. Good entries, and money
    management will keep you whole.

    It ain't how many punches you can throw, it's how many you can take.

    Size your trades accordingly, until you are solidly profitable in what you
    hold.

    You'll be amazed at the difference that having that "profitable perspective"
    makes.

    Best wishes.

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