Tough juncture; we are 200pts (SPX) above March lows. Hard to start buying now BUT i only see UPSIDE projections. Someone correct me if that is incorrect. The opportunity could come as the end of quarter, funds generally CANT mark up stocks, and that could lead to some late afternoon weakness to enter long. Also, the beginning of the quarter, generally speaking, is a big buying event.

The real trap in this market is identifying as either a bull or a bear. I did get burned in Q4 last year with the SPY and NQ puts I was holding, even though I made it all back on my Inverse TSLA shares. The lesson I learned since then is to approach each day in the market with a fresh perspective.

Look at the shortest offset on the Projections Web App and that will determine my bias for the day, work my way up the offsets and it colours in my directional bias further. The next trading day erase all previous thoughts about the market and re-analyse, re-observe. Right now the projections are telling me "up, up, up" and "btfd"

At the same time, Michael Burry, the billionaire bear has come out to say he made a mistake putting on his bear suit too early. https://twitter.com/michaeljburry/status/1641436280650371078?s=20

Some constructive feedback for Peter; You have a unique insight into the market and especially your price projection software. The one thing us non-tradestation users are unable to have access to is the price projections on live charts and shorter timeframers. I would love to see more analysis of the hourly and 30min charts for SPY/NQ during your mid-week updates. This would help us daytraders out immensely.

volfgang said:

The real trap in this market is identifying as either a bull or a bear. I did get burned in Q4 last year with the SPY and NQ puts I was holding, even though I made it all back on my Inverse TSLA shares. The lesson I learned since then is to approach each day in the market with a fresh perspective.

Look at the shortest offset on the Projections Web App and that will determine my bias for the day, work my way up the offsets and it colours in my directional bias further. The next trading day erase all previous thoughts about the market and re-analyse, re-observe. Right now the projections are telling me "up, up, up" and "btfd"

At the same time, Michael Burry, the billionaire bear has come out to say he made a mistake putting on his bear suit too early. https://twitter.com/michaeljburry/status/1641436280650371078?s=20

Some constructive feedback for Peter; You have a unique insight into the market and especially your price projection software. The one thing us non-tradestation users are unable to have access to is the price projections on live charts and shorter timeframers. I would love to see more analysis of the hourly and 30min charts for SPY/NQ during your mid-week updates. This would help us daytraders out immensely.

Well said Volf

IWM appears headed to retest 182. Anything above 183.6 will trigger much higher prices imho. Best case for shorts is a dip to 171-173 support/gapfills.

IN A BEAR MARKET

BUT.. says who that we are in a bear besides a bear?

20% above a low is considered a new Bull right? Says /NQ

24 now has NEW HIGHER PROJECTIONS!!

Look at WEEKLY

WOW !! Anyone looking?? Who told ya??

@@@ HILARIOUS !!!!

LOOK AT /ES

LOOK AT /NQ

LOOK AT THE PROJECTIONS

ALL GREEN 24.2 48.4 96.8

YET TALKING ABOUT THE VIX? UNDER 19 ? IN A BEAR MARKET ?

THE FED IS DONE RAISING RATES ......... THEY " THEM " THOSE GUYS " MOVE THE MARKETS

THERE IS A THEY ...

LOOK AT THE PROJECTIONS

/ES 24.2 PROJECTED TO 4241 /ES 48.4 PROJECTED TO 4450 /ES 96.8 PROJECTED TO 4591

WHAT ARE THE %'S THESE ARE HIT MR. E ? TELL US THAT

THEN LOOK AT WEEKLYS YOU ARE LEADING THESE SHEEP TO SLAUGHTER.

/NQ 96 8 WOW /NQ 24.2 WOW /NQ WEEKLY 20.20 WOW !!!

VIX ... IS DEAD UVXY IS DEAD

XXSPOWER127 said:

IN A BEAR MARKET

BUT.. says who that we are in a bear besides a bear?

20% above a low is considered a new Bull right? Says /NQ

24 now has NEW HIGHER PROJECTIONS!!

Look at WEEKLY

WOW !! Anyone looking?? Who told ya??

Too early to say the Bear is done. I expect this wave up to end SPX 4147. Then, another move to the downside SPX 3940 minimum.

MarketTiming01 said:

NDX keeps blowing higher YTD ... amazing as it has been

Bears getting run over. Looking every 50 SPX points as resistance. Until the next 35 or 55 points.

helene3835 said:

XXSPOWER127 said:

IN A BEAR MARKET

BUT.. says who that we are in a bear besides a bear?

20% above a low is considered a new Bull right? Says /NQ

24 now has NEW HIGHER PROJECTIONS!!

Look at WEEKLY

WOW !! Anyone looking?? Who told ya??

Too early to say the Bear is done. I expect this wave up to end SPX 4147. Then, another move to the downside SPX 3940 minimum.

Why? FEB 15TH? no one cares about that.

StevenTexas said:

Wow some great commentary, thoughtful, reflective and even braggadocious! IMHO we have never seen a cacophony of more harsh and discordant, variables, data points, fundamentals and massive monetary rifts ever! Massive monetary vice on WS crushing poor tourist retail shorts. Those darn levered inverse funds lose their bounce ability in time. They become stale farts in an elevator over time. Is it possible a LOT of bond money is fleeing the debt markets and is going to flood the equity markets with no real regard to any historic valuation metrics. Just "get me out of frigging bonds!" Those darn Neo Cons running the US government all want war, war and more war! Got any Jenie's chocolate chip ice cream?

LMAO !!

szulc2639 said:

helene3835 said:

XXSPOWER127 said:

IN A BEAR MARKET

BUT.. says who that we are in a bear besides a bear?

20% above a low is considered a new Bull right? Says /NQ

24 now has NEW HIGHER PROJECTIONS!!

Look at WEEKLY

WOW !! Anyone looking?? Who told ya??

Too early to say the Bear is done. I expect this wave up to end SPX 4147. Then, another move to the downside SPX 3940 minimum.

The FED doesn't control rates, it can only give guidance to member banks. The only tool the Treasury has is to increase or decrease the money supply. It is the bond market participants that control rates contrary to the prevailing consensus of speculation as it is in all markets, but patterns must complete first. The whole while there's been an overwhelming mantra in the media and investment community of interest rates going higher is market noise, bonds bottomed last October. The countertrend up move in bonds is c wave of an a-b-c rally and is likely to top in the coming weeks to months. Thereafter the larger down trend will resume to well under the October lows. When done the mantra will be that interest rates have bottomed. It is possible that a flat correction is transpiring in the stock indices, if that's the case the NDX shouldn't exceed 13,333.87, that could top within the next couple of days if it hasn't today. Fear/Greed that had a 19 reading in the extreme fear zone is already at neutral 50. However there seems to be a triangle in the RUT that originates from the June and October lows with wave e putting in it's low on 3/24 @ 1695.23 that preceded the other indices recent lows. The strength of RUT ahead of this rally that had been the weakest of the indices, was a harbinger of the rally thereafter. If this is a triangle then there will be a thrust in 5 waves, the thrust measurement can be taken from the distance of b-a and adding it to e, secondarily it could go as high as 1.382 that distance, giving a range of 2083.81-2232.25 (+ -), that would retrace approximately 50-61.8% from the November '21 all-time high. If RUT goes that high then surely the NDX will exceed 13,333.87. Triangles are terminal patterns when completed they return to their origin or lower: a=1641.47, b=2030.05, c= 1641.94, d= 2007.31, e=1695.23 (3/24). So likely the other indices will retrace accordingly. Alternatively, if a flat correction, then the indices may top out within the next couple of days if they didn't do so today. Flat corrections are very quick to retrace the entire distance, that means lower lows within a week or two.

OK LET ME WRITE THIS DOWN

A) THE $NDX SHOULD NOT GO HIGHER THAN 13333.87 B) ALTERNATIVELY, THE $NDX COULD GO HIGHER THAN 13333.87

HAHAHA! Elliot wave ..
Your main points.. IF THEN, then, if not, Maybe, perhaps, could, if this, if that's the.

NO.. HERE is my take We are way overbought right now $NYMO in nose bleed territory $NYAD - last 2 times we had this type of move - we had a nice down draft Serious FOMO on Friday

MY BEEF WITH PETER IS HE WONT SAY BOO ABOUT ....... SPEED RESISTANCE LINES.. WHAT HAPPENS WHEN THEY GO ABOVE.. MR. TECHNICIAN HE WONT SAY BOO ABOUT -------- 45, 54, 27 TRADING DAYS .. what? is it a MOOT POINT NOW? LOL MARTY ZWEIG AND THE THRUST OF 4% 20% OFF A BOTTOM = BULL RUN SO FORGET THE VIX . ITS DEAD 20% OFF A BOTTOM = BULL RUN SO FORGET THE VIX . ITS DEAD 20% OFF A BOTTOM = BULL RUN SO FORGET THE VIX . ITS DEAD WE ARE NOT IN A BEAR ANYMORE /NQ IS THE LEADER AND THE LEADER SHOWED ITS MIGHT HIS THEORY ON THE VIX IS DEAD I PROVED MY POINT SO PROVE WE ARE IN A BEAR ??????

I CAN GO ON AND ON ABOUT OTHER STUFF ALSO

OH .. AND his projections are higher.