SMC Update 1-19-23

01/19/2023


Comments (12)
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brian1469
brian1469

Thanks Peter thanks for the update on gold. Time to hedge the long position and see what happens

ryguy
ryguy

Great update as usual. I love the side point on how to play the chart positioning based on current price, projections, different offsets and the continuum. Please do more of that. It helps understand how to read projections

spencerdavis2000
spencerdavis2000

Hey Peter great update. Yeah I also think renaming things like that is dumb and accomplishes nothing except make people dumb. Squaw Valley had nothing wrong with its name.

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DAV15J
DAV15J

Notably PE is now the sole analyst, whom I follow (paid or not), with a confirmed bearish view / projection on GLD. The stop is noted.

brian1469
brian1469

Wow just got a chance to look at the web app we could get that 100/110 on the ES on this down move if it continues and also invalidate the 48 daily and 10 weekly on the upside. I believe we just need the 12 daily to get a downside projection which we have a shot today.

Let's see how today goes though they usually like to melt the vix on Friday

Edit: they are melting the vix and pumping it all lol

Feels like the move is coming now people are throwing in the towel and accepting the recession

Edit finally put on a long term QQQ play here. Have that and IWM in place now. Also DOW is still weak which is good for continuation I believe

Should have waited to put on that long term QQQ play.

Was expecting a squeeze but not quite that much I believe the QQQ 3/3.5 daily got invalidated which sucks as I thought we might have some thing brewing but just more chop

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dcarter8883312
dcarter8883312

Bloomberg: Today Was A Huge Option Expiration Day. $800Billion Single Stock Options and $1.3Trillion Rolling Index Options—the LARGEST Non-Quarterly Expiration On Record❗️ January is always bigger because includes year end. ~ Dorothy

brian1469
brian1469

dcarter8883312 said:

Bloomberg: Today Was A Huge Option Expiration Day. $800Billion Single Stock Options and $1.3Trillion Rolling Index Options—the LARGEST Non-Quarterly Expiration On Record❗️ January is always bigger because includes year end. ~ Dorothy

Thanks Dorothy lost of outside noise in the moves then see where we stand next week

dcarter8883312
dcarter8883312

Someone quoted Tom McClellan a few days ago. Interesting interview today CNBC: Stock market faces collision of bullish and bearish forces, says Tom McClellan https://m.youtube.com/watch?v=m-6_dgd8Xmg

brian1469
brian1469

Looking at the updated web app on the QQQ we still have the 3.5/4 downside and the preliminary upside which has already been met. That shows the chop in this market.

Every other daily and weekly projection has been met except the long term 100/110.

We could get one last gasp up here on the fed pivot news this morning but man we have to be getting close to the next leg down.

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max.ship3821
max.ship3821

Dear Peter, I had a look at the Web App Projections. Would you be so kind addressing the fact that the daily 48.4/55.3 show that the bear target 3.250-3.510 has been invalidated and 4.431-4.618 is the only outstanding long term one now.

brian1469
brian1469

Very nice to see no follow through on the futures open.

Need a down day tomorrow to trigger YM 12/13, ES 7/8 downside projections and complete NQ 3/4

If that happens the current upside projections could be in jeopardy

ryguy
ryguy

No weekend update. Is Peter okay?

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