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[AndyB]

Maybe I closed my long too soon. A friend of mine sent me this



Let's see how the Nikkei does overnight hey?

[AndyB]

Just went long on the S&P500 Sept contract at 937 in the overnight market. If this is a wave-3 coming up as per the post above, expect some spectacular bullishness over the next few days. If not then that was the top, party over for the bulls. It's worth the chance (IMO)

[AndyB]

Futures are down a few points, traders are overwhealmingly bullish, the markets look toppy. Oh boy its make or break. I favour a rally to sub 1,000, failure, then a 200 point pull-back, but you never know.

Be very careful. Be afraid when others are greedy.

[AndyB]

Ok chaps, before the weekend, here's some charts fo yo ass

I still think this move has the potential to be super-bullish up to 980-1,000 S&P. Some people I know were still going short, that's not a sign we're at top. You'll know the top as no-one in their right mind will be shorting it.

So this is what I'm looking for Monday/Tuesday to confirm a big move in the up or down direction.

Bull case:



Bear case:



I am currently long from 937 Sept contract, stop below yesterdays low. However I think the bull case is most likely, I am going to close my long Sunday night 11pm at futures open and reposition later that day. I think I will be able to get a better entry and therefore risk less on the trade

GL guys and have a great weekend!! :)

[AndyB]

Hello all, been a bit busy recently so sorry hadn't had time to post. Here's an updated chart. This is a scenario I am looking for to pile in short.

A small retracement up tomorrow to the 930 mark (Must be weak sideways/up consolidation) and its a good short signal with a target of 900-920. That will complete our A of A-B-C or 1 of a 1-2-3-4-5 downwards swing.