remember topping is a process and sometimes a long one at that. The emotion/psychology is different during rallies vs sell offs -greed vs fear manisfest themselves differently. Sell offs tend to be sharp and over quickly, not trending for long periods of time, unlike topping where you get months and months of trends and dips being bought.

    topping is a process and generally you need sideways movement, breaks in uptrend symmetry, and lower highs in order to flatten out the slope of the moving averages, such as the 20, 50 etc. 

    Steve and I learned a long time ago - when the MA's have strong positive slopes, and price is above the 9 EMA's, if you happen to catch an index short (it's best to lock those gains in quickly once a nice pullback (like yesterday occurs) vs thinking to yourself 'I caught the top with a great price, I'm just going to hold it), 9 times out of 10 you will just give back all the profits or even take a loss. Shorts are for hedges. Only after a break in symmetry and lower high, with some flattening of the MA's, then you can give that short more room

    In current market, I consider

    Posted by steveo on 28th of Jul 2023 at 12:58 pm

    In current market, I consider all SPY shorts as a day trade, unless its a BPT system trade then I stay in (sometimes too long, ouch, don't do that)

    Like Matt was saying the

    Posted by DigiNomad on 28th of Jul 2023 at 01:07 pm

    Like Matt was saying the other day, topping (in the indexes) is often more of a process than bottoming. One thing that happened yesterday is that structure got tweaked a bit and now we're putting in more negative divergences on the middle time frames (e.g. the 2 hour).  The longer time frames are starting to flatten out...have to squint still to see divergences. 

    check your inbox digi

    Posted by been_trumped on 28th of Jul 2023 at 01:18 pm

    check your inbox digi

    I don't see anything in

    Posted by DigiNomad on 28th of Jul 2023 at 01:45 pm

    I don't see anything in my inbox, but I sent you a message to reply to. 

    weird, mine shows in outbox

    Posted by been_trumped on 28th of Jul 2023 at 01:49 pm

    weird, mine shows in outbox sent, and i don't have anything in my inbox either. maybe my mail just doesn't work.

    brilliant.... isn't it gonna be

    Posted by donkeyface on 28th of Jul 2023 at 11:13 am

    brilliant.... isn't it gonna be nuts if the monthly / quarterly chart puts in a massive (close to ATH) lower high?


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