SMC Update 7-21-21

07/21/2021


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ccquinn374
ccquinn374

Loops have been happening for months. Bottom line is the fed has infused liquidity and until this resolves we will see this looping?

nimishtrading263
nimishtrading263

I think we'll be seeing loop projections upwards. I've mentioned before that channels work an absolute treat on the DJIA log chart over 125 years. Channels big and small work! Focusing on the current, if you draw a channel on the DJIA log chart from the March '20 low to the June '20 high and also to this month's low you will notice how the monthly candles react to the mid-channel line. It's absolutely amazing. This month's low is at the lower TL of this channel, hence it's a BTD! Target is to the mid-channel and may be beyond....lots of room to the upside!

rkautry584
rkautry584

Face it Peter, you are a natural born bear. You have been calling THE top for months Why did you say you were disappointed that we got new loop projections?

nimishtrading263
nimishtrading263

I'm so happy to use Peter's projections along with the log chart....for me, a winning combination.

Hsiang76
Hsiang76

nimishtrading263 said:

I think we'll be seeing loop projections upwards. I've mentioned before that channels work an absolute treat on the DJIA log chart over 125 years. Channels big and small work! Focusing on the current, if you draw a channel on the DJIA log chart from the March '20 low to the June '20 high and also to this month's low you will notice how the monthly candles react to the mid-channel line. It's absolutely amazing. This month's low is at the lower TL of this channel, hence it's a BTD! Target is to the mid-channel and may be beyond....lots of room to the upside!

nimishtrading263 said:

I think we'll be seeing loop projections upwards. I've mentioned before that channels work an absolute treat on the DJIA log chart over 125 years. Channels big and small work! Focusing on the current, if you draw a channel on the DJIA log chart from the March '20 low to the June '20 high and also to this month's low you will notice how the monthly candles react to the mid-channel line. It's absolutely amazing. This month's low is at the lower TL of this channel, hence it's a BTD! Target is to the mid-channel and may be beyond....lots of room to the upside!

What makes you think it’s only loop projection and not that the prior upside projection simply wasn’t accurate?

Optimus
Optimus

nimishtrading263 said:

I'm so happy to use Peter's projections along with the log chart....for me, a winning combination.

Yes; the projections are very much on point to when the top is coming. I joined after seeing the unbelievable accuracy of the February call and it has saved me couple of times since. These loops are in part due to a topping process. Also, retail investors are investing new money they get from the government that's being given to keep the economy going to both small businesses and individuals. Some of the small businesses are getting 100s of thousands in loan at very cheap rates for 30 years. We have got a strong momentum and buying the dip.
Having said that, we should probably have our own financial plan and use different strategies. Some folks I know leave 30% in long term investments and use most of the rest for swing types of trades and a very small portion for scalping. Something we should think about. Having multiple strategies helps to take advantage of the market's twists and turns. (But, one would need new strategies if the secular bull market dies).

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