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Possible S&P Stock Market Top

Stock-Markets / Stock Markets 2013 Jul 28, 2013 - 05:56 PM GMT

By: Submissions

Stock-Markets

SIbeiho writes: The Blue Line is showing obvious support and there is a fairly gd chance the VIX is gonna move up to cover that gap at the orange line.


Gold might make a slight move up towards that resistance during the Asian trading hours and move downwards thereafter. This is in line with the retracement for the Nikkei and the USDJPY which is extremely oversold right now.

These are the points whereby I longed the USDJPY. If the retracement does pan out the way I foresee, I will be taking profit near the close of the Nikkei or before a decent resistance of 14500 at around 14200. The downtrend should continue towards the US market opening with the S&P 500 moving downwards.

My trade plan would be obviously to pile up the shorts on the S&P 500 at this point. The odds seems overwhelming for a move down at the moment. I normally look at the intermarket relationships and determine the odds for a trade.

These are the previous positions I have taken with the S&P 500 shorts. On my blog you can tell from the time the charts were put up that all these weren’t based on hindsight. The profits from these shorts are gonna be reinvested for the next positions that I am going to use for reshorting the S&P500 again.

You could visit my blog at http://sibeiho.wordpress.com/ and you will find the realtime trades and charts before it happens. I dun have a crystal ball neither am I saying I am the market oracle…but I am taking positions based on the odds of events that is happening right now. Given the dynamics and movements of the different asset classes currently, one thing for sure this US market is heading towards its bear market sooner rather than later. That is a discussion for another day.

The blog is an experiment of initial funds of $3000. If you do have time do visit the blog and see how far this sum of money can be stretched.

© 2013 Copyright SIbeiho- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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