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SMC Special 9 am Pacific Update 7-19-21

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07/19/2021

Comments (6)
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Optimus
Optimus

Thanks for the update.

raj1275
raj1275

Thanks for the special video update. Can you please explain what is the purpose of drawing fib lines with snap mode disabled at the bottom end? Also, how much bounce you would allow to invalidate this projection (23%, 38%?)

jbusch0158
jbusch0158

This is a fast move on the spx and likely to retrace before conitnuing up. FWIW I'm willing to wait for a near retest of the lower TL at 4300, and there take a SDS position with entry from 9.10 down to 8.95. I have found it's better to miss a quick move up then to get in at a high price and watch the market sink. I think Peter's work is right, I just want to get in at a price where I can afford a small loss if it's not right.

XXSPOWER127
XXSPOWER127

Dear Mr. E., are there similar projections for the @Nq? TIA.

daniel039209
daniel039209

Thank you Peter ! Much appreciated

maserati92251
maserati92251

raj1275 said:

Thanks for the special video update. Can you please explain what is the purpose of drawing fib lines with snap mode disabled at the bottom end? Also, how much bounce you would allow to invalidate this projection (23%, 38%?)

He just turned off the snap mode so he could drag the line to a precise point in the continuum without trade station snapping it to something else

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