SMC Update 1-5-23

01/05/2023


Comments (13)
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brian1469
brian1469

Thanks Peter! Feels like tomorrow is a big day

brian1469
brian1469

Was all pumped up for the new year and to get back in the market this week.

Still just an absolute terrible market to trade. News driven short squeezes with no actual buying or selling

Very frustrating thinking about getting out again and just watching

jshemanski49196
jshemanski49196

A (very) bad day for the perma-bears here.

brian1469
brian1469

jshemanski49196 said:

A (very) bad day for the perma-bears here.

Agree I got all mixed up this whole week

Today tells me the upper projections have a lot better shot than I thought

dcarter8883312
dcarter8883312

S&P did a .382 retracements. It appears if you look at mirror image 🦋 S & P is possibly forming a right shoulder of H & S pattern.

dcarter8883312
dcarter8883312

brian1469 said:

jshemanski49196 said:

A (very) bad day for the perma-bears here.

Agree I got all mixed up this whole week

Today tells me the upper projections have a lot better shot than I thought

jshemanski49196 said:

A (very) bad day for the perma-bears here.

Yes! However were the upside targets met? I don’t have the software so I can’t say. ~ Dorothy

dcarter8883312
dcarter8883312

brian1469 said:

jshemanski49196 said:

A (very) bad day for the perma-bears here.

Agree I got all mixed up this whole week

Today tells me the upper projections have a lot better shot than I thought

jshemanski49196 said:

A (very) bad day for the perma-bears here.

Yes! However were the upside targets met? I don’t have the software so I can’t say. ~ Dorothy

jeanrobert15225
jeanrobert15225

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

dcarter8883312
dcarter8883312

jeanrobert15225 said:

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

jeanrobert15225 said:

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

Go watch video again. Peter said he can’t say SPX won’t rally to 3900 ➡️ first. He said be careful no short term upside projections left on NDX. The last thing he discussed what was necessary to cancel downside projection. I had noticed Advance Decline numbers were improving. This is the time of year PMs are putting their portfolios together for new year 2023. They buy and hold. Bulls, this next week you’re likely on the hot seat as selling was seen into the close at .382 and a cycle low is expected January 17-20th.

dcarter8883312
dcarter8883312

jeanrobert15225 said:

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

jeanrobert15225 said:

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

Go watch video again. Peter said he can’t say SPX won’t rally to 3900 ➡️ first. He said be careful no short term upside projections left on NDX. The last thing he discussed what was necessary to cancel downside projection. I had noticed Advance Decline numbers were improving. This is the time of year PMs are putting their portfolios together for new year 2023. They buy and hold. Bulls, this next week you’re likely on the hot seat as selling was seen into the close at .382 and a cycle low is expected January 17-20th.

dcarter8883312
dcarter8883312

dcarter8883312 said:

jeanrobert15225 said:

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

jeanrobert15225 said:

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

Go watch video again. Peter said he can’t say SPX won’t rally to 3900 ➡️ first. He said be careful no short term upside projections left on NDX. The last thing he discussed what was necessary to cancel downside projection. I had noticed Advance Decline numbers were improving. This is the time of year PMs are putting their portfolios together for new year 2023. They buy and hold. Bulls, this next week you’re likely on the hot seat as selling was seen into the close at .382 and a cycle low is expected January 17-20th. Correction: He said be careful no short term DOWNSIDE projections left on NDX

dcarter8883312
dcarter8883312

Edit button didn’t work should be No short term Downside projections on NDX

brian1469
brian1469

dcarter8883312 said:

jeanrobert15225 said:

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

jeanrobert15225 said:

it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry

Go watch video again. Peter said he can’t say SPX won’t rally to 3900 ➡️ first. He said be careful no short term upside projections left on NDX. The last thing he discussed what was necessary to cancel downside projection. I had noticed Advance Decline numbers were improving. This is the time of year PMs are putting their portfolios together for new year 2023. They buy and hold. Bulls, this next week you’re likely on the hot seat as selling was seen into the close at .382 and a cycle low is expected January 17-20th.

I agree Dorothy there was room for a rally and we had upside targets on the YM and ES going into yesterday.

I'm more mad at myself I jumped into the year full steam ahead and was not on my game and ignore those upside projections bad mistake.

Here is to starting the year over and great success the rest of the way

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