SMC Addendum to Week Ending Update 10-28-22 Recorded 10-30-22

10/30/2022


Comments (17)

You cannot post comments.
Sign up for the Video or Bundle membership now and get access to exclusive content!
Login for Members

StevenTexas
StevenTexas

So much drama in this market!

spencerdavis2000
spencerdavis2000

thanks for the addendum Peter. good information.

MarketTiming01
MarketTiming01

Thanks Peter, as of today, you do show a NDX upside Confirmed projection on Daily, 12.1/13.5, to 12600-12400 .... yes shorter period, but your Projections Web App shows it. Understand what you are saying, projections are just that, projections. Nothing guaranteed up or down. Lots for good information and your experiences are appreciated, thanks again. Safe trading to all.

seamus.ssoh3308
seamus.ssoh3308

Thank you VERY much Peter, looking forward to a long update on Monday or Tuesday if the need arises.

dr191103
dr191103

Peter I’m sorry but it seems like you’re trying to find reasons to support your Bearish case and ignoring the obvious reasons for the bullish short term case. The run into the elections would be the obvious one. Just my 2 cents

timsc4301671
timsc4301671

Hi Peter When you said the NQ tends to lead, do you mean in a correction or in a trend (Bull and Bear)?

ryguy
ryguy

Thanks for the special report. Happy you addressed the projection. Feels like every week is an important moment.

brian1469
brian1469

Thanks for the special update Peter. I think everybody is getting twisted here because their are so many outside forces going on.

Would not be surprised if we go sideways for the week.

I still think we have a good shot for a November like they had in 1973. Then we finally bottom next year in October like they did in 1974. The absolute worst of this bear market is still vey much ahead

sarvalokeshdh2942
sarvalokeshdh2942

NQ daily projections in the web app show an upside projection on -7/8 offset 11900-12000 and 12.1/13.8 offset 12500-12700

brian1469
brian1469

If we close at 3785 or below tomorrow on the SPX I would get super bearish. It would stay under resistance on the monthly bar charts.

NDX has a good shot to stay under resistance and so does IWM.

Last updated

brian1469
brian1469

After looking at the web app. I think you can make a case for the YM being the best short set up.

It has hit all daily higher projections. It has hit it's weekly higher projections or close within a 100 points of the 5/5.01. Also hit it's upside 2.5/2.501 on the weekly

It still has it's weekly 10/10.1 starting target of 28, 148 on the downside.

Last updated

jshemanski49196
jshemanski49196

brian1469 said:

After looking at the web app. I think you can make a case for the YM being the best short set up.

It has hit all daily higher projections. It has hit it's weekly higher projections or close within a 100 points of the 5/5.01. Also hit it's upside 2.5/2.501 on the weekly

It still has it's weekly 10/10.1 starting target of 28, 148 on the downside.

YM only crept 2 pts within the window on the 24.2/27.6, though. It has over 700 points to the upper end of the same offset, however.

Tima
Tima

Thank you!

m1.c70
m1.c70

Thanks Peter. Not sure if some have the emotional resilience for a bear market. Thanks for your expert views to supplement the offset modelling, much appreciated.

dcarter8883312
dcarter8883312

brian1469 said:

Thanks for the special update Peter. I think everybody is getting twisted here because their are so many outside forces going on.

Would not be surprised if we go sideways for the week.

I still think we have a good shot for a November like they had in 1973. Then we finally bottom next year in October like they did in 1974. The absolute worst of this bear market is still vey much ahead

brian1469 said:

Thanks for the special update Peter. I think everybody is getting twisted here because their are so many outside forces going on.

Would not be surprised if we go sideways for the week.

I still think we have a good shot for a November like they had in 1973. Then we finally bottom next year in October like they did in 1974. The absolute worst of this bear market is still vey much ahead I was a young new broker in 1974. Final low was December 6, 1974. It slightly took out October low. There WAS NO BUYING The Dips then. People would hang up on brokers if you made a prospect call.

dcarter8883312
dcarter8883312

brian1469 said:

Thanks for the special update Peter. I think everybody is getting twisted here because their are so many outside forces going on.

Would not be surprised if we go sideways for the week.

I still think we have a good shot for a November like they had in 1973. Then we finally bottom next year in October like they did in 1974. The absolute worst of this bear market is still vey much ahead

brian1469 said:

Thanks for the special update Peter. I think everybody is getting twisted here because their are so many outside forces going on.

Would not be surprised if we go sideways for the week.

I still think we have a good shot for a November like they had in 1973. Then we finally bottom next year in October like they did in 1974. The absolute worst of this bear market is still vey much ahead

——————————————

I was a young new broker in 1974. Final low was December 6, 1974. It slightly took out October low. There WAS NO BUYING The Dips then. People would hang up on brokers if you made a prospect call.

bpotiker2944
bpotiker2944

Won't change the MA much, but 1,440 minutes is 24 hours. Globex ES trades 23 hours (1,380 minutes).

1-17 of 17