SMC Update 6-29-23

06/29/2023


Comments (30)
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fast3777
fast3777

Peter thank you, That NDX TL is just another supporting data point that could prove to be bearish in a very large degree. Tonight I'm watching Japan and the index has put a small 5 down off a possible wave 2 top. This is very important because a decline from the June 16th top could bring a cycle wave 3 down.Could have a big surprise down tomorrow. The Bond market was down 2 points today. The JNK looks to have broken down out of it's months long B triangle and today might have completed a snap back test,probably will fail. If so will be in a 3rd wave down tomorrow.

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fast3777
fast3777

Peter, That JNK triangle is almost a year long. If it has completed and now in a wave C down,it would be incredibly bearish and U.S markets and Japan especially could start historic declines.

fast3777
fast3777

Bitcoin topping? If so very bearish.

jjay636
jjay636

I think that last TSLA chart should make any bear feel very uncomfortable right now - unless it crashes 50-75 bucks in matter of couple of weeks it pretty much is guaranteed to cross that offset line to the upside since offset line dropping so rapidly going forward. Not sure how market goes lower with TSLA having such a huge upside potential after it crosses the offset - TSLA better crash now.

daniel039209
daniel039209

now, we are anchored to the trendline. which really, overall, just shows the actual trend of the market since 1982. there will never not be a bearish angle. The VIX was focus for most of 1st quarter, and part of 2nd quarter; never to be mentioned again. Confirmed downside projections from BTC to Crude to the NDX, SPX, besides small incursions to downside have born no fruit for 2.5 quarters. At least there is no " cascading, snowballing, waterfalling " comment today. That is almost always a contrarian call. Do your own work, good luck NDX 15,132-15160 is the last area in Fibonacci "resistance" on way up. gonna be close

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fast3777
fast3777

Today should be reversal day.

dcarter8883312
dcarter8883312

To >jjay636 :

I’m Bearish after July 10th/11th. A Blow Off will be seen BEFORE this rally ends. Look at AAPL! TSLA has outstanding Targets 296.49 As Long As 221.91 Isn’t Touched. Stretch Target 337.96 ALA 235.23 NT.

Anyone with Software please post the upper Projection on TSLA 96.8/110 GIVEN PETER DIDN’T PROVIDE‼️ Very unwise to assume the upper projection can’t be met by July 10th‼️ ~Dorothy

I think that last TSLA chart should make any bear feel very uncomfortable right now - unless it crashes 50-75 bucks in matter of couple of weeks it pretty much is guaranteed to cross that offset line to the upside since offset line dropping so rapidly going forward. Not sure how market goes lower with TSLA having such a huge upside potential after it crosses the offset - TSLA better crash now.

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XXSPOWER127
XXSPOWER127

fast3777 said:

Peter thank you, That NDX TL is just another supporting data point that could prove to be bearish in a very large degree. Tonight I'm watching Japan and the index has put a small 5 down off a possible wave 2 top. This is very important because a decline from the June 16th top could bring a cycle wave 3 down.Could have a big surprise down tomorrow. The Bond market was down 2 points today. The JNK looks to have broken down out of it's months long B triangle and today might have completed a snap back test,probably will fail. If so will be in a 3rd wave down tomorrow.

BLAH BLAH 5 wave 🌊 3 down triangle top stop and rob seven eleven

/YM fas Look 👀 at projections

/NQ Higher

Wave 39 part 8, section 3

dcarter8883312
dcarter8883312

To fast3777 said:

Today should be reversal day.

fast3777 said:

Today should be reversal day.

I will Take that bet! July 6th earliest for peak! 10th-11th the latest. AAPL looks like it will Gap up on Open so it’s starting it’s last run for roses 🌹 🌹 ~Dorothy

XXSPOWER127
XXSPOWER127

fast3777 said:

Bitcoin topping? If so very bearish.

fast3777 said:

Bitcoin topping? If so very bearish.

Lol .. ok

XXSPOWER127
XXSPOWER127

/NQ 7/8 will be invalidated

XXSPOWER127
XXSPOWER127

ARE WE STILL IN A 🐻 MARKET ELIDES?

I think naught.. as now all averages have gone past speed resistance lines indicating a return to ATH.

VXX 💀.

fast3777
fast3777

Exhaustion gap,trying to regain Peter's line. The JNK tells you that,the cake is baked.

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fast3777
fast3777

It is common that in the start of C waves down markets experience double tops where a B wave up sets up the C wave down to follow. Japan and Bitcoin will lead the World markets down in a destructive C wave.

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fast3777
fast3777

AAPL yesterday in the final hour made a 4th wave or B triangle signaling the end of the rise was close and today at opening gapped up producing a exhaustion gap.Dorothy's 193 is at hand. You can't have a new bull market with interest rates rising. The cake is baked.

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fast3777
fast3777

Bitcoin double top

fast3777
fast3777

Very few traders have ever heard of Edwards and Magee,Schabacker,or Robert Rhea. Only knowledge of time in memorial patterns and technical knowledge including cycles can prepare you in moments such as this.

ericoh792283
ericoh792283

Lol. Laughing at the bears…

fast3777
fast3777

The German DAX did do 5 down. Now at .618. Japan completing it's ABC up to just above .618. The final "kiss good-bye to Peter's line.

fast3777
fast3777

JP Morgan is a perfect example today of finishing a large ending diagonal triangle started in March. Today has a exhaustion gap with a terminal marginal ATH. Because of the 3 wave nature in the NDX advance many stocks are making B wave highs here. The crowning glory of a Supercycle degree of a B wave top. The Public will ride the C wave all the way down,they are that Pavlovian.

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