SMC Update 6-1-21

06/01/2021


Comments (7)
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michael221
michael221

The interesting thing is I checked a couple of other gold ETFs and they have similar projections. I don't know what the official cause of the decline would be (if it happens) either interest rates hike or a stronger dollar or central banks massive sellings to fund deficits or cash in on current high gold prices. It'll be interesting to watch if it does happen.

spytrader24
spytrader24

The software is so amazing, great work. I have a few questions. 1. What determines when you personally use median price or closing price? For example, do you like closing price better for daily charts. 2. Do you always have a nick filter on of say 1 or 2, or do you keep it at zero then when you see and interesting chart/projection start messing with the nick filters? Thanks, I love the stats and the adjusting of the ATR, it's a great product guys but wanted some insight from the creators and more experienced software users.

careyfrank41324
careyfrank41324

Can you please look at XLF?

Peter Eliades
Peter Eliades

spytrader24 said:

The software is so amazing, great work. I have a few questions. 1. What determines when you personally use median price or closing price? For example, do you like closing price better for daily charts. 2. Do you always have a nick filter on of say 1 or 2, or do you keep it at zero then when you see and interesting chart/projection start messing with the nick filters? Thanks, I love the stats and the adjusting of the ATR, it's a great product guys but wanted some insight from the creators and more experienced software users.

Those are good questions st24...As either intra-day or closing projection is approached, I like to look at the other. There are times when a closing projection is met but not the bar extreme and if you are trading a Rydex fund or any fund that is based on closing prices you can trade based on the meeting of the closing price projection even if the median (intra-day) projection calls for a further move. This is only one example. Daily charts are the only ones I use for closing price projections...As to nick filters, I usually prefer to have it set to zero as a default and only use it if the web chart indicates it could be useful. The example today with the 12.1-13.8 offset was a good example where you would want to use it. Be careful when you use it to set it back to zero or you could begin to get misleading results...

dciwinski973
dciwinski973

This SP500 market does not want to move from that 4200 level either way. This is like day 6 now on this.

careyfrank41324
careyfrank41324

dciwinski973 said:

This SP500 market does not want to move from that 4200 level either way. This is like day 6 now on this.

huge move brewing

dciwinski973
dciwinski973

careyfrank41324 said:

huge move brewing

I think you are right. On 4/15 the SP500 was 4170, on 5/5 it was 4167. These sideways moves can take a little time. Then it popped up then dropped. I wonder if we will get a fakeout. I was thinking the SP500 was going to drop to 4150 then go to new all time highs. Still could happen but we will see.

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