SMC Update 2-28-23

02/28/2023


Comments (7)
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jwkim33366
jwkim33366

On the ES daily chart, looks like we have started a down side break of the 24.2 offset, preliminary projection down to 3825.

rvogel88111522
rvogel88111522

Can you please review the projections for UNG during one of the nightly updates?

danizh53
danizh53

So you feel the TSLA upside projection will be invalidated, but there's 50/50 odds it won't be, and there's no further downside projections? How does this help? And yes, the downside projections were met, but at the time you were calling for further lows. My mistake for listening and not catching the rally. Hope we can do better.

m1.c70
m1.c70

I don't often comment but just to say thank you, Peter. This is very tricky bear market and you have more experience than all of us. I still don't understand one of two comments people make, which in my mind suggests they might be better off not investing or trading!

brian1469
brian1469

Wow this market sucks. 40 point ES rally on China news. I mean who cares about China a country we are trying to start a war with

Looks like we are going to get higher 3.5/4 projections on the ES and NQ with a decent pop today. Still have the 48 and 96 upper projections on the ES, and the 96 on the NQ that could start to come into play again with the rally.

Pretty frustrating they sell the market with one minute left yesterday like 10 or 15 points then the drop on the NVDA news. Now it looks like we hit a temporary bottom on the China news if it is we should go after the 96 at 4198. Then if we still have more to go the 48 at 4431

If you can't tell I'm ready for a down move lol but they keep hanging on

Edit: Here we go some decent selling here this morning after the German numbers

Last updated

dmarrazzo3334
dmarrazzo3334

The Ratio Adjusted McClellan Oscillator has a MASSIVE 1 month divergence pattern currently. It's gone from a 100 level reading to -81 and the markets appear to just now be reacting.

I'd love it if you could cover this to help make sense of the situation. The last time we had divergence on this scale was the all time highs.

dcarter8883312
dcarter8883312

The Middle Andrew’s Pitchfork is still holding rallies & lower is holding decline. I doubt lower will hold much longer. Drawing Tools Daily ESH 2/2 High 2/9 Low 2/14 High.

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