The Rally is Over

http://mrtopstep.com Mr Top Steps Danny Riley who called a rally in the S&P from the 1037 triple bottom up to 1250 to 1350 says the rally is over. The end of the POMO, earnings and the historical seasonal has push Mr Top Step to call for a break down to 950 in the S&P. Citing further debt problems both in the US and in Europe r Top Step says the rally is over. The unemployment revision by Goldman from 180 down to 140 and the number comes in at 54k. Everything is pointing to the down side Riley says.

http://twitter.com/mrtopstep

**Filmed on the trading floor at the CME Group. Produced by MrTopStep with MarketHEIST

Category:

Education

Tags:

• mrtopstep
• cme
• chicago
• trade
• S&P
• rally
• goldman

[wcci1224]

Danny,, you think its over?. i am betting the bulls got more juice, at least enough to keep us in a range for a while.

[mrtopstepgroup]

@CaliforniaPeedza Oh boy ... we have been saying sell it EVERYDAY in our morning report but you would not know that because you dint sign up for it. You were not around when in the beginning of the credit crisis where I called the S&P down to 750 , then 650 and it got down to 666. If you have some stuff that works let see it. . We have over 10k followers now and I am sure they would love to see what it is you use? We also are going to do a trading contest , I hope you join ..

[wcci1224]

@CaliforniaPeedza its not a game of perfection pal. its a biz of odds and being more right than wrong. Which Danny has obviously done, he has been around 25+years. How about yourself?

[Dboyvc1]

@wcci1224  I hope I am wrong!

[wcci1224]

@soundbites0 your probably right. But as always, in the markets. Anything can happen.

[soundbites0]

when Danny says down I'm betting he is right