SMC Special Update 8-29-23 9-10 am Pacific

08/29/2023


Comments (16)
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dcarter8883312
dcarter8883312

Peter: 100th Request IF a projection window is shown please give Top of Projection window. You hovered over it— how hard is it to click on it so subscribers can do a snapshot? ~Dorothy đŸ˜…

XXSPOWER127
XXSPOWER127

kwmurphy2939 said:

This is awful, all of this after the fact stuff.

I've been posting for you guys as soon as it comes out to help you sheep

ericoh792283
ericoh792283

Lol. Thank you bears for this squeeze!

daniel039209
daniel039209

XXSPOWER127 said:

kwmurphy2939 said:

This is awful, all of this after the fact stuff.

I've been posting for you guys as soon as it comes out to help you sheep

XXS power you were spot on this from friday.

all the SMC forecasts were lower, lower lower,until today.. So, one has sold sold sold, how can you possibly get long enough for today to be in a favorable position?

daniel039209
daniel039209

kwmurphy2939 said:

This is awful, all of this after the fact stuff.

he said they could rally last night. 1st time my recollection in about 8 months

rsshah68
rsshah68

Hi Peter, Thanks for the update. Can you please comment on the upside projection on SPX 65 min 42/48 offset? Similary on QQQ 65 min 72.6/82.8 offset. These confirmed projections are higher but not on the daily charts yet.

daniel039209
daniel039209

Peter can you address one or both: on 8/22 DJIA 34288..."85% success of downside projection to low 33,000" we are 34820. On 8/24, after big reversal, your bearish engulfing candle was another nail in the coffin, for the bear case, we are 3.6% higher than that close ( 2% is today)? How is that you posture very bearish, versus possible support and today, voice your opinion that projections and you are doing a "very good job"? tyia

srblack1960144
srblack1960144

The 65-minute SPX chart now has a preliminary projection up to 4587 (72/86 offsets). Looks like it will be confirmed tomorrow, barring a sharp drop.

XXSPOWER127
XXSPOWER127

Gravy Train whooot whooop

brian1469
brian1469

srblack1960144 said:

The 65-minute SPX chart now has a preliminary projection up to 4587 (72/86 offsets). Looks like it will be confirmed tomorrow, barring a sharp drop.

Is that a 12/13 on the daily?

ericoh792283
ericoh792283

We r still in a bear market people!!!! We are going down!!!

brian1469
brian1469

Still need to close the gap on VIX looks like they are going to push the pig into month end. Crazy if you look at monthly candlesticks they could get us back to support that could lead to a double top in September.

I'm still having a hard time seeing that until we get actual projections for it. Hard to put much into end of the month window dressing going into a long weekend.

I still think we are in counter trend rally that could lead to filling the gap from the Fitch downgrade but think that should be it. That is still about 500 NQ points up from here. If we are just forming the right shoulder on the NQ it can go to 14475

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XXSPOWER127
XXSPOWER127

srblack1960144 said:

The 65-minute SPX chart now has a preliminary projection up to 4587 (72/86 offsets). Looks like it will be confirmed tomorrow, barring a sharp drop.

Look at the weekly 110 can go all the way to 5100 ++++

XXSPOWER127
XXSPOWER127

brian1469 said:

srblack1960144 said:

The 65-minute SPX chart now has a preliminary projection up to 4587 (72/86 offsets). Looks like it will be confirmed tomorrow, barring a sharp drop.

Is that a 12/13 on the daily?

check this out

GO TO 48.4 daily then click " weekly "
confirmed projection to 4738 to 4919

U see that right ?

Nice and clean on top of continuum

no one says BOO about it

XXSPOWER127
XXSPOWER127

brian1469 said:

Still need to close the gap on VIX looks like they are going to push the pig into month end. Crazy if you look at monthly candlesticks they could get us back to support that could lead to a double top in September.

I'm still having a hard time seeing that until we get actual projections for it. Hard to put much into end of the month window dressing going into a long weekend.

I still think we are in counter trend rally that could lead to filling the gap from the Fitch downgrade but think that should be it. That is still about 500 NQ points up from here. If we are just forming the right shoulder on the NQ it can go to 14475

Head and shoulders works MAYBE ..... 50% of the time you know that right? its literally a coin toss dont put faith in h&s

brian1469
brian1469

XXSPOWER127 said:

srblack1960144 said:

The 65-minute SPX chart now has a preliminary projection up to 4587 (72/86 offsets). Looks like it will be confirmed tomorrow, barring a sharp drop.

Look at the weekly 110 can go all the way to 5100 ++++

I think we need a monthly close above support area of 4540 to start thinking about the double top or higher scenario. If we do get it I think we can see a double top in September then see what happens from there. See if they can close above there in the next couple days. This is on the ES and not the SPX though. regardless we need a couple up days still

Just looked would be 4526 on the SPX to close around for the month

With the vix gap not closed yet I think it could happen

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