Sunday, May 05, 2013

SPX monthly

As Wallfly pointed out in comments section of the last post, my charting software was in la-la land (may be it was me) and we do have monthly Setup sell as well as Combo 13 sell countdown.

At the same time RSI during new highs sloping down - in the old time traditional market it would suggest quite unhealthy market internals, but in FED propped "let 1% prosper" reality it does not really matter anymore.





I would really love to see similar countdowns on multiple timeframes, so I will be watching like a hawk and acting accordingly






Disclosure - I entered weekend with substantial short indexes position which I kept building till market close


May 20th update

Bleeding on my SPX short position, leveling it by short Gold position, only 30% of portfolio committed with no leverage at all… none said that catching the top was easy.

Remember old saying: “Wall St cemeteries are full of people who were right at the wrong time”?

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