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SMC Update 5-10-23

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05/10/2023

Comments (6)
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brian1469
brian1469

Thanks Peter hope you start feeling better!

Looking to short NQ here in the next few days would like us to get to the 14533 projection

spencerdavis2000
spencerdavis2000

hey Peter I hope everything is ok. Maybe that dizziness is just a sense of the market top is near :-)

stevepam307409
stevepam307409

Peter--Feel Free to take a Day Off. We Be Fine.... Other than Rest, Vitamins for Lymph system & Heart.. Blessings Young Man

Last updated

daniel039209
daniel039209

8.5 month high in NDX. again, have the other bear markets( this one clearly not the same) been above their 40 week Moving Averages for this long before? Also, this "bear rally " has been 8 months long, is that comparable to the last 2 bear markets you reference? Its an odd scenario that you are looking for higher prices after this rally. NOT saying you are not right but you have postured negative to VERY negative for 7 months. Hard to not shift at all, except for the last 2 days above 13,260 NDX

brian1469
brian1469

rdevonfoods4127 said:

Can someone explain to me the strength of this Nasdaq Index in the last year. I keep hearing that the market has too much liquidity that will lead to further gains in the index. I don't know what that means but from a technical standpoint...there are so many negatives, low vixx, poor breath, high P.E. that should lead to a 15%-20% correction but it has not happen and Fund managers continue to drive up the index by buying the top 10-20 stocks. When will it end??? MNQ-June futures now only 550 points lower than (14,000)- the 52 week High... and 2,700 points higher than the 52 week low (10,7500) this is mind boggling to me!

We have upper projections 3/4 13477, 7/8 13533, 96/110 13668 on the daily's the an a 20 on the weekly up to 14,000 area I'm not paying mych attention to that at the moment.

I am looking to short the NQ up in the 13530-50 area being prepared to hit the 96 at 13668. At that point we will have satisfied all upper projections on the daily's if we get to them all.

That should be a top we are looking for

dcarter8883312
dcarter8883312

Peter, IF Vertigo dizziness get OTC Rugby Travel Sickness CHEWABLE Tabs absorbed quicker in mouth than hard shell swallowed version. Works like a charm if your doctor has cleared you from serious issues. I Agree— Peter take tonight off & chill. Do a Zoom with wife, new granddaughter & family. ~Dorothy

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