jvGator

jvGator

400 EMA has proved powerful support in the past. 15% from highs seems high probability as a temporary bottom.

jvGator

My best guess based on what I've seen up to today.

jvGator

I have seen a lot of ideas similar to this and I tend to agree. 65% it goes up 35% down. The Macro Chart shows strong support in this area. Seems like a good risk.

jvGator Updated 

It does have a gap to fill lower, but looks like a bottom is confirmed and good potential upside compared to the QQQ.

jvGator

I can speak from experience that thinking you know the top of an index making new highs is usually a way to part with your winnings $$$. Don't make the same mistakes I made. Trying to short in this market takes a remarkable short trader, which by definition most traders are not. Trying to predict a top and how to profit from it is very difficult even for...

jvGator

Short term weakness then resumption of new highs possible.

jvGator

Looks like it's being accumulated and preparing to spring up. Could get a nice 15% to 25% bounce.

jvGator

I've been seeing tons of posts stating they are short the SPX, DJIA or the NDX. Anyone else see the possibility that there's going to be massive covering that could send this into a blow off top? The SPX trapped a lot of bears.

jvGator

You can trade it, or even hold on for a year, but this looks like a cheap entry price with powerful support lines, good potential upside.