Finding a market top

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Finding an exact market top can be quite an elusive task, we all know that, still sensing and smelling it’s approach is what we like to do as traders.

We are almost there! Waiting for a bearish signal confirmation is all we need to enter the “Big Short” position.

That was my plan for the coming week starting on Monday, July 29th.

After a quick scan of relevant stocks and world index, I reconsidered that, I’ll wait for an expected new marginal top at end of next week before I start my short positions.

Monday should be a pullback day. Later, as 4Hr chart below shows, a projected TD trend-line target to min. 3034 is expect to print by end of next week (Friday, August 2th).

The German #DAX / #DEU30 index has just completed a TD countdown sell setup and seems very ready for breaking below support line for a sell-off to a minimum projected price target @ 11600

Weekly chart – DEU30

Volatility index #VIX is suggesting slightly lower closing sessions (daily chart) before it start the anticipated strong move up. Weekly TD countdown approaching no. 13:

VIX weekly chart

My signal system is anticipating a last higher closing weekly bar for #QQQ, the higher close does not preclude lower prices during first half of the coming week. In fact I believe we open the weekly bar lower.

QQQ Weekly chart

#HSI monthly chart is ready for a big drop, Summer & Autumn sell off:

Hang Seng Index – Monthly chart

Expecting some tough weeks and months ahead:

#SPX – Monthly chart

If /when price breaks below June lows (SPX 2728), we can expect a massive crash! To an S&P 500 index price projection down at 2350 level!

Trade well ;o


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  1. Pingback: Time for a bear rally and bull trap – SP500daytrader.com

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