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