SMC Update 3-13-23

03/13/2023


Comments (5)
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arcon00224
arcon00224

Thanks Peter, great updates, I watch them all !!

brian1469
brian1469

Thanks Peter! One question did we invalidate the 48 daily on the SPX today?

Also I can see a bounce here we need to be on our toes.

If inflation readings come in low tomorrow it opens a very good chance for a rally through the FED meeting next week I believe. They could easily cut then and then it will be time to short again I believe.

Also I think the bounce in the Nasdaq today had a lot to do with rates the computers didn't have time to switch the algo from buying on the lower rates. I don't see it lasting though.

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dcarter8883312
dcarter8883312

Thanks Peter ☺️ Look at weekly chart on Regional Banks ETF (KRE) is still in free fall. The next shoe to drop is Empty Commercial RealEstate Office Buildings—Non Performing Loans? How many companies still have workers wanting to stay home or cutting to 4 day work week? Financials lead up or down. Short term money flowing into Big Banks. That won’t last with non performing loans. Markets Still unwinding from COVID

~Dorothy

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brian1469
brian1469

dcarter8883312 said:

Thanks Peter ☺️ Look at weekly chart on Regional Banks ETF (KRE) is still in free fall. The next shoe to drop is Empty Commercial RealEstate Office Buildings—Non Performing Loans? How many companies still have workers wanting to stay home or cutting to 4 day work week? Financials lead up or down. Short term money flowing into Big Banks. That won’t last with non performing loans. Markets Still unwinding from COVID

~Dorothy

Yep one of my main shorts has been IYR Dorothy.

Also the inflation data came in line so it doesn't look like we are going to get much of a move from it.

stockninja
stockninja

Thank you Peter for analyzing NVDA. I'm sure the community will agree that we all appreciate your time and effort in giving us the best analysis of the market. Please keep up the great work!

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