SMC Update 7-5-23

07/05/2023


Comments (23)
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jshemanski49196
jshemanski49196

The IWM (Russell) is showing higher projections on the Web App as is the QQQ on the 7/8 offsets, so am not sure why the call for a top here, yet again? The VIX is showing a lower projection on the 3.5/4, as well.

XXSPOWER127
XXSPOWER127

/ES AND /NQ snd /RTY call for HIGHER !!!

fast3777
fast3777

Thanks Peter and it does look toppy.

dcarter8883312
dcarter8883312

I will probably go long SPY Tomorrow near open depending on set up. I’m long TSLA & loved how it acted today! There should be one more run up 📈 watch ES23 4625.00. Bears 🐻 Our Time starts next Week IF I AM Correct. ~Dorothy

fast3777
fast3777

Japan 200 pts off the low. Now in a 3rd wave of Super cycle "C" wave down. SPX key support at 3390

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brian1469
brian1469

Thanks Peter when I watched this video last night I went short NQ again on you saying it had reached a 7/8 target and the double top.

Still very short SPX and NQ and QQQ's. Looking for a place to take off my small long ES hedge.

Nice to see the markets finally pay attention to rates

I just looked at the VIX and we got a nice breakout but I see we have an open gap below yesterday's open which is kind of disappointing.

Said it last Friday we could be setting up an island top on the SPX and NDX todays looks like that could come to fruition.

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fast3777
fast3777

Key support on the Dow is about 33,270 not saying we will get there today but that is the lower TL on the Harmonic Butterfly.

fast3777
fast3777

Nearing SPX 4390 key support

fast3777
fast3777

Leverage can be a killer if your in the wrong direction. When you are right you can be profitable in one day.

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fast3777
fast3777

Should get a bounce soon. Could be brief and another leg down. YMMV

ericoh792283
ericoh792283

Yawn…. Spy down1% today??? That’s it? Where’s the crash?

fast3777
fast3777

ericoh792283 said:

Yawn…. Spy down1% today??? That’s it? Where’s the crash?

Lmao....fool

ericoh792283
ericoh792283

fast3777 said:

ericoh792283 said:

Yawn…. Spy down1% today??? That’s it? Where’s the crash?

Lmao....fool

Man, you’ve been shorting a bull market. Lol. Who is real fool? 🤔

ericoh792283
ericoh792283

It’s a crash! Market is dumping 1%! After it went up 20-30% up. If I was Fast, I’d stop trading after losing his hard earned retirement. Lol

fast3777
fast3777

You could drive a semi truck through the island reversal gaps created today in the SPX cash.

ericoh792283
ericoh792283

Bears can’t even get 1% down day. Lol. Feel so sorry for ya

brian1469
brian1469

ericoh792283 said:

Yawn…. Spy down1% today??? That’s it? Where’s the crash?

Why don't you at least tell us what you are doing on the long side.

You guys sit around and whine all day about the bears but never say anything about what you are actually doing. It gets tiresome to hear it with no idea what you actually doing.

Just complaining all the time helps nobody

I just got out of my ES hedge here on the pop back up. Will still put it on back in some fashion before tomorrow

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ericoh792283
ericoh792283

Buy the dip! These bears will be wiped out by the time we hit ATH!

elchico714622
elchico714622

brian1469 said:

ericoh792283 said:

Yawn…. Spy down1% today??? That’s it? Where’s the crash?

Why don't you at least tell us what you are doing on the long side.

You guys sit around and whine all day about the bears but never say anything about what you are actually doing. It gets tiresome to hear it with no idea what you actually doing.

Just complaining all the time helps nobody

I just got out of my ES hedge here on the pop back up. Will still put it on back in some fashion before tomorrow

There is higher projections to the upside.

ericoh792283
ericoh792283

Most excellent and reputable technicians say buy the dip in a bull trend. Peter and his bear cubs are the only ones advocating for a crash.

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