SMC Update 6-13-23

06/13/2023


Comments (31)
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daniel039209
daniel039209

Excuse me, you said “doji” about 9 days and 1000 ndx points ago. A Doji candle is a POTENTIAL turning point need 1-2 more days of confirmation. Engulfing candles much much higher forecasting ability. As I have maybe mentioned 1/2 dozen times and it was back then; March 17th weekly BULLISH engulfing candle. You never recognized or didn’t see or couldn’t see with your very biased view. That was 2500 points. Lower. Tell me how you would be short and ever, unless it happened overnight , make 2500 points in NDX. I’d love to hear that plan

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elchico714622
elchico714622

Didn’t even mention the nasdaq longer downside projection got invalidated today.

ericoh792283
ericoh792283

Omg. Useless vix for 6 months and now Doji? doji? Really? Doji is going to bring the market crash? Not a single one of your invalidated lower projections. Does he even remember things he said few days ago???

Guido van Schagen
Guido van Schagen

Thank you Peter. Yes you have been to bearish these last months, but I have followed you for 4 years now and I have made big gains during that time. For me you are still one of the best analysts, who made some mistakes these last months. Don’t we all. Thank you for your service, you deserve way more respect than what I read over here.

fast3777
fast3777

Thank you Peter, In the final part of this C wave. The Fed is in a bad situation. They are their own worst enemy. I still.think we will go down very fast,a market break will surprise everyone.

dcarter8883312
dcarter8883312

I’m bearish BUT I expect a sharp drop and then Loop Upside Projections expected to be met at a high into 6/21 or July 11th. Bears will have their days, weeks & months. Just a little more patience required. As Joe Granville use to say there’s more ‘Bag Holders’ who need to be sucked in before this rally peaks. ~Dorothy

brian1469
brian1469

elchico714622 said:

Didn’t even mention the nasdaq longer downside projection got invalidated today.

On the NQ it is at 15,345 and the weekly midpoint has to be above that.

QQQ it is above it but the midpoint is still below $361 I believe it would be right below $360 right now

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fast3777
fast3777

For days I said various Dow stocks are in multiple degrees of third waves and low and behold UNH gapped down 40+ points. Now in a 3 of 3 of 3.....This market will no longer levitate with destructive leverage with OPM. Get out now before this market really breaks, Thanks Peter. Btw the Nikkei and the German DAX have probably topped.

brian1469
brian1469

NQ is sitting right at the top of the range this morning on the highest upper projection the 96 15,162

Should mean we are topping out according to the projections

ericoh792283
ericoh792283

NDX 14981 today, Peter’s line in the sand again at 14936

daniel039209
daniel039209

ericoh792283 said:

NDX 14981 today, Peter’s line in the sand again at 14936

that is like Obama's "line in the sand" it kept moving :(

brian1469
brian1469

ericoh792283 said:

NDX 14981 today, Peter’s line in the sand again at 14936

Isn't this on a weekly basis though so it won't matter until were we end up on the week?

Maybe Peter can chime in

fast3777
fast3777

We have 5 up in the NDX.....Could go higher but the pattern has been fulfilled.

fast3777
fast3777

AAPL has 5 up from it's 4th wave triangle.

ericoh792283
ericoh792283

15017!

brian1469
brian1469

Peter I just want to ask if you remember a situation with setup like the NQ has right now.

All upside targets have been hit to the top of the range and still have a massive lower like we have at 100/110 to the downside down to the last tick of about to be invalidated.

Just have to think a situation doesn't happen like this often with the projections

I mean aren't the projections saying this is the ultimate short.

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fast3777
fast3777

With the canary in the coal mine today,which was UNH now in the most powerful part of a 3rd wave down. The bears have the upper hand I believe. Nothing good to see here in the short term. YMMV

fast3777
fast3777

NDX support 300 points lower,bottom of the channel which it broke. YMMV

fast3777
fast3777

Can markets waterfall off the top? Yes I saw the UAL bubble do it in 1990 with the DJ trans average.

fast3777
fast3777

The NDX channel runs right around 15,000 trying to regain. Typically if fails the the decline starts in earnest.

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