SMC Update 6-5-23

06/06/2023


Comments (55)
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fast3777
fast3777

If that is a wave E on the Bitcoin daily....that will be the catalyst to a flash crash.

daniel039209
daniel039209

fast3777 said:

Another very bearish day so far. Double top in the Japan N225 futures. Bitcoin very bearish action.

Disagree. Nothing bearish about NEW 38 year highs. I don’t u set stand what u look at. Curious though

daniel039209
daniel039209

Also, Peter, when will you disavow your VXX readings/ calls/prognostications ? Decimated an ALREADY DAILY DECLINING product. And 2022 bear mkt Is NOT 2000 or 2007. Nothing loses more money than long volatility probably >85% of time

ericoh792283
ericoh792283

What are you talking about. Most institutions are not fully invested all worried about recession and waiting for the bottom. Market has turned and now it’s a bull market. Institutions are going to buy the dip

fast3777
fast3777

ericoh792283 said:

What are you talking about. Most institutions are not fully invested all worried about recession and waiting for the bottom. Market has turned and now it’s a bull market. Institutions are going to buy the dip

This is not a Bull Market....it is a echo bubble "B" wave....B waves are phonies driven by hope,easy money,and I say easy money because interest rates should be 8 percent and the Fed has margin rates at 200 to 300 percent. The Elephant in the room for this market is a 1 trillion dollar margin debt. Japan and Germany are in topping cycle degree B waves and Bitcoin is in 3 of 5 down of wave A....just finished wave 2 of 3 and now in 3 of 3 of 5 of wave A....This market has topped and now in some degree of a intermediate degree wave 3 down of wave C.

daniel039209
daniel039209

XXSPOWER127 said:

Vix printed a 13 handle today ..

Can U say PRE COVID

BUT ........... THERE IS A bullish rsi divergence on the 1H and 4H for the VIX

SVIX HAS ............. SHOT ITS LOAD I think

NO ONE EVER TALKS ABOUT SVIX , AND THE CORRELATION BETWEEN UVXY AND VXX AND VVIX BUT YA KNOW........ NOT A BIGGIE

TOMORROW IS WEDNESDAY

WHAT DID I SAY LAST WEEK ABOUT WEDNESDAY

LETS SEE? What did u say? Very hard to search back on this? Should be seasonally weak W TH F is what I see.

fast3777
fast3777

daniel039209 said:

XXSPOWER127 said:

Vix printed a 13 handle today ..

Can U say PRE COVID

BUT ........... THERE IS A bullish rsi divergence on the 1H and 4H for the VIX

SVIX HAS ............. SHOT ITS LOAD I think

NO ONE EVER TALKS ABOUT SVIX , AND THE CORRELATION BETWEEN UVXY AND VXX AND VVIX BUT YA KNOW........ NOT A BIGGIE

TOMORROW IS WEDNESDAY

WHAT DID I SAY LAST WEEK ABOUT WEDNESDAY

LETS SEE? What did u say? Very hard to search back on this? Should be seasonally weak W TH F is what I see.

The VIX is a index of "Fear" in the market. A very good gauge of complancey and fits perfectly in a Super cycle B wave in a BEAR MARKET and you know why ? Because the public is panicking into small cap stocks...Russell 2000 up 100 points in two days. These people will get Slaughtered...a butchering they will remember the rest of their lives.

fast3777
fast3777

To put it bluntly for all the Bulls this market is going to Crap with everything else. You can't have major Dow stocks that have made huge distribution tops for 2+ years and complete wave 1 down,2 up, 1 of 3 down 2 of 3 up and 3 of 3 down and maybe finished 2...so now in 3 of 3 of 3 the heart of a crash wave which will begin. The NDX completed big wave 1 down and completed it's B wave top...so now everything is ready to be marked down. The guy in the futures pit says, "100 ES points down...that's too much". Wanna bet?

fast3777
fast3777

daniel039209 said:

fast3777 said:

Another very bearish day so far. Double top in the Japan N225 futures. Bitcoin very bearish action.

Disagree. Nothing bearish about NEW 38 year highs. I don’t u set stand what u look at. Curious though

Take a look at a 40 year chart of the N225 and what do you see? the rise from 2009 is a B wave! A 3 step advance that is at .786 retracement. Why would it top? Because Japan has the largest GDP to Debt ratio in the world. Higher interest rates or Deflation will bring Depression to Japan and they will sell U.S. Treasury bonds to raise much needed capital.

fast3777
fast3777

Bitcoin in process of finishing a complex ending diagonal down which will start it's wave 3 of 5 of cycle A down. The EDT is counted from the top 1 5 wave down then W-X-Y for a wave 2...going to new lows.

fast3777
fast3777

Just wondering what geo political event could kick off a major 3rd wave decline? What happened in Ukraine today? Will that busted dam and massive flooding take out the largest nuclear plant in Europe?

Last updated

ericoh792283
ericoh792283

Omg. This guy is writing some type of apocalyptic novel based on his bs Elliot wave theory. Lol

ericoh792283
ericoh792283

No wonder why so many bears subscribe to Peter

daniel039209
daniel039209

fast3777 said:

The VIX is in a leading diagonal triangle and if it is be prepared for Volmageddon...we shall see.

Who are you? Are you Peters’ relative? You sound like the strategist from Cantor or Morgan—“ NO WAY we can rally , we are going to 3325 on SPX”. Since December that BS is put out there. Dead to rights wrong. Please post actual stuff. Not “ crash , volmageddon ( NOT a real word) , end of days crap”. This isn’t Twitter

ericoh792283
ericoh792283

This guy is fast to 0.

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