The smell of blood is in the air. Tis the season. Thx once again. Look forward to these every night.

Peter, at what point you said you were guessing that this would resolve lower right away. Why guess, why not use your shorter term offsets. ES has an outstanding projection that was given yesterday. Up to 3800. Thanks for all your hard work, just thinking out loud.

andrewturchindmd379 said:

Peter, at what point you said you were guessing that this would resolve lower right away. Why guess, why not use your shorter term offsets. ES has an outstanding projection that was given yesterday. Up to 3800. Thanks for all your hard work, just thinking out loud.

And interestingly enough, the flag formed by todays all day sideways move' second flag pole measures to the same exact area. Curious your thoughts.

Whatever Lars mentioned in that blog was a reproduction of what Chris Carolan had said and to an extent what Robert Prechter had predicted early on in Jan'22 (unless I am much mistaken). The link to Chris Carolan award winning research was originally given by Aaron Brickman below his webcast, the link for which was given by stockmarket cycles about a week or ten days ago.

Last updated 2 years ago

thanks for the detailed update Peter.

andrewturchindmd379 said:

Peter, at what point you said you were guessing that this would resolve lower right away. Why guess, why not use your shorter term offsets. ES has an outstanding projection that was given yesterday. Up to 3800. Thanks for all your hard work, just thinking out loud.

Collision course with the 21D MA and won't immediately invalidate the longer-term offsets if momentum stalls. How I interpreted his commentary of 'may stay above the 10D MA for a couple of days.'

Interestingly the same 3.5 daily offset projection has a mid 70s win rate since 2020 where the last 9 upsides were reached since late May.

andrewturchindmd379 said:

andrewturchindmd379 said:

Peter, at what point you said you were guessing that this would resolve lower right away. Why guess, why not use your shorter term offsets. ES has an outstanding projection that was given yesterday. Up to 3800. Thanks for all your hard work, just thinking out loud.

And interestingly enough, the flag formed by todays all day sideways move' second flag pole measures to the same exact area. Curious your thoughts.

I appreciate the effort Peter puts into the updates, but it's a little frustrating when he spends 19 minutes on an update and doesn't even mention the upside projections. Elliotwave's short-term service is calling for a rally to 3800 over the next few days before the downtrend resumes. Considering the ES futures are already 25 points higher, an immediate drop isn't looking likely.

I got a bit different channel drawn today as well https://www.tradingview.com/chart/SPX/xFIDCE4f-SPX-can-be-at-the-begging-of-a-very-stip-downtrend-channel/

With that channel I drew, we still can hit 3800, which will be a 100% extension off Oct 13th and Oct 14th lows https://www.tradingview.com/x/8U6OJMxf/

Last updated 2 years ago

Cheers for the update Peter, a look at Bitcoin would be highly appreciated here, volatility is being squashed right now and a big move looks to be pending. It has some outstanding projections to the upside on the daily chart while the 100/110 offset on the weekly chart is approaching the continuum.

Thanks Peter, hope you recover soon

I appreciate the effort Peter puts into the updates, but it's a little frustrating when he spends 19 minutes on an update and doesn't even mention the upside projections. Elliotwave's short-term service is calling for a rally to 3800 over the next few days before the downtrend resumes.

+1 👍

Last updated 2 years ago

Your cold should right itself shortly. Delighted you didn’t use that other ridiculous word they’ve used since 2020 for the Common Cold.

Thanks Peter. Take it easy with that cold.

1. Peter, would love to hear any tidbits of Tom DeMark’s view on the market.
2. To all, when I installed the app on 10/1, the “show statistics” feature disappeared on all charts. If anyone else is having this problem, here’s how I fixed it. Go to Studies > Edit Studies, then click the Customize button, then change the setting for “record statistics” from “false” to “true” and hit OK/Close. Do that for all of your Workspaces.
3. Here’s what I see short term, the offsets are suggesting to me that SPX could be headed to the upper 3800s, maybe 3900, before the downtrend returns. This will cleanse out the overly bearish condition.

30-minute chart: 45.5/52 offsets – There is a confirmed projection to 3777 to 3807. 91/104 offsets – If the above projection is reached and holds into this afternoon, there will be a new projection to around 3900

65-minute chart: 21/24 offsets – There is a confirmed projection to 3777.6 to 3811 42/28 offsets – If the above projection is reached and holds into this afternoon, there will be a new projection to around 3900

The daily charts will also be producing preliminary upside projections today if the pre-market surge holds all day. The daily median price chart (3.5/4) has a projection to 3747-3771. If that is met and holds through Thursday, the 7/8 offset will produce a higher projection, looks like around 3900. The longer daily offsets (48/55 and longer) and weekly chart 10-week offset have room for a rally to 3900 in the next week or two, then a turn back down. Edit - As of 8:15 am eastern time, the 45-minute ES chart (223/255 offsets) has just produced a preliminary projection up to 3986

Last updated 2 years ago

30-minute chart: 45.5/52 offsets – There is a confirmed projection to 3777 to 3807. 91/104 offsets – If the above projection is reached and holds into this afternoon, there will be a new projection to around 3900

65-minute chart: 21/24 offsets – There is a confirmed projection to 3777.6 to 3811 42/28 offsets – If the above projection is reached and holds into this afternoon, there will be a new projection to around 3900

The daily charts will also be producing preliminary upside projections today if the pre-market surge holds all day. The daily median price chart (3.5/4) has a projection to 3747-3771. If that is met and holds through Thursday, the 7/8 offset will produce a higher projection, looks like around 3900. The longer daily offsets (48/55 and longer) and weekly chart 10-week offset have room for a rally to 3900 in the next week or two, then a turn back down. Edit - As of 8:15 am eastern time, the 45-minute ES chart (223/255 offsets) has just produced a preliminary projection up to 3986

Great information, appreciate the update.

That channel, Mr. Eliades. Great find! What a channel it's at least at the open.

Last updated 2 years ago

Concur with andrewt comments below regarding short term offset targets above indexes. highs touched this AM and reversed.