SMC Update 8-21-23

08/21/2023


Comments (20)
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spencerdavis2000
spencerdavis2000

Thanks Peter. Jim Rickards believes because of the BRICS meeting tomorrow, it might kick something off probably to the downside. Let's see what happens.

thomblas2051
thomblas2051

Market crash material on its way, Possible Masking to begin in mid September and full lockdowns in December Peter will finally be right

fast3777
fast3777

If we start to waterfall in 3 of 3 it will be because of the sinking UST market. Also the put call sunk today. Futures are down and waiting for the DAX and Japan to start down in 3 of 3. BBQ bull sandwiches for lunch tomorrow? Peter says a "one day wonder" it is setting up that way,let's see. Peter thanks

XXSPOWER127
XXSPOWER127

Do any of you CRASH MONGERS know anything about looking at things that matter?

A) THE FUTURES /ES /NQ show higher 1-3 PROJECTIONS B) THE VIX SHOWS LOWER PROJECTIONS C) WHEN THE $NYMO GETS SO BEAT DOWN YOU DONT STAY SHORT D) LOOK AT $NAA50R YOU DONT STAY SHORT

HOW MANY DAYS IS IT 83005 FROM 1935 WHEN POPEYE HAD A HAMBURGER WITH SPINACH ON THE SIDE THATS WHY THE MARKET WILL DO THIS

GIVE ME A BREAK

FAST3777 .. NAH... I SEE 4444 I LIKE NINA FROM PASADENA .. EVER HEARD OF THE 4 GAME ?

John_cash9154493
John_cash9154493

spencerdavis2000 said:

Thanks Peter. Jim Rickards believes because of the BRICS meeting tomorrow, it might kick something off probably to the downside. Let's see what happens.

Jim Rickards is a waste of space like Peter Schiff. BRICS have problems with their currency. They will not back with Gold 4 sure

XXSPOWER127
XXSPOWER127

You can go all the way to 4600 into the sept 10th and not invalidate this little downside .. and then invalidate it

WE GO HIGHER

dcarter8883312
dcarter8883312

Love You Peter BUT— How many times do I have to ask you to make the extra effort of clicking on projection window to give subscribers who don’t have the software the Targets up or down❓ SPX 😅 ~Dorothy

srblack1960144
srblack1960144

The 65-minute chart, at the close yesterday, 10.5/12 offsets, has a projection up to at least 4428.76. Also, as XXS said, the NYMO is super oversold and has just given a rare "trifecta" of buy signals to confirm at least a short-term (a few weeks?) bottom: https://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&yr=1&mn=0&dy=0&id=p32152966307&a=269536931&r=1450045167343&cmd=print The bears are licking their chops, a perfect setup for another bear trap.

brian1469
brian1469

Seems like we are just forming a right shoulder on all indices for the most part. NVDA was an easy excuse to push the market up as I don't see how their numbers are bad since they do half their business in China and the government was threatening to cut them off so China loaded up in Chips.

Still have Powell's speech also which I don't see him being as negative this year

But I still see this as right shoulder and will probably bounce up and around until after labor day

Very hard for me to get bullish long term here as the projections don't have much upside and it would take a lot to get them

srblack1960144
srblack1960144

A right shoulder is a possibility and Sven Henrich shows that in his weekend video: https://twitter.com/NorthmanTrader/status/1693296976001892640
But more compelling to me is that 4-year pattern of extreme NYMO lows in August of pre-election years (watch Sven's video!) followed by new highs by January of the following year. That's my guess, new highs in most index's by January/February 2024, and that will finally be the very tippy top of the bull market since 2009. After that the Fourth Turning "Millennial Crisis" will really take over and down we go into the early 2030s.

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brian1469
brian1469

srblack1960144 said:

A right shoulder is a possibility and Sven Henrich shows that in his weekend video: https://twitter.com/NorthmanTrader/status/1693296976001892640
But more compelling to me is that 4-year pattern of extreme NYMO lows in August of pre-election years (watch Sven's video!) followed by new highs by January of the following year. That's my guess, new highs in most index's by January/February 2024, and that will finally be the very tippy top of the bull market since 2009. After that the Fourth Turning "Millennial Crisis" will really take over and down we go into the early 2030s.

I believe that is going to be hard for it to happen with the way the projections are set up The NQ will have to do a ton of loop projections and the 100/110 got invalidated this past week. The ES still has the 100/110 but has already hit it on a minimal basis but it does go up to 5200. It also can be easily invalidated from here.

For presidential cycles just remember what Obama said "Don't underestimate how bad Joe Biden can **CK things up"

fast3777
fast3777

They those large players have started selling the Banks, GS,JPM,ect JPM appears to be in a 3rd wave down. They know what's coming. Redux of 2007 and 1987 it's going to happen.

fast3777
fast3777

Nearing the point of no return here. Dow 34200 which I give some room. To much Murphy's law here, UST,BRICS,USD, Budget crisis,Covid,and Biden...a cauldron mixed in market hadees.

John_cash9154493
John_cash9154493

XXSPOWER127 said:

Do any of you CRASH MONGERS know anything about looking at things that matter?

A) THE FUTURES /ES /NQ show higher 1-3 PROJECTIONS B) THE VIX SHOWS LOWER PROJECTIONS C) WHEN THE $NYMO GETS SO BEAT DOWN YOU DONT STAY SHORT D) LOOK AT $NAA50R YOU DONT STAY SHORT

HOW MANY DAYS IS IT 83005 FROM 1935 WHEN POPEYE HAD A HAMBURGER WITH SPINACH ON THE SIDE THATS WHY THE MARKET WILL DO THIS

GIVE ME A BREAK

FAST3777 .. NAH... I SEE 4444 I LIKE NINA FROM PASADENA .. EVER HEARD OF THE 4 GAME ?

Yesterday could have been 1 day wonder. could be a consolidation before another Leg down. Did You see how much they pumped up NVIDIA?

John_cash9154493
John_cash9154493

Peter you need to check NDX/Dow ratio. It's going up. Timing maybe wrong with dates. Please check again and is there any more upside left in NDX? Nvidia as well

https://stockcharts.com/c-sc/sc?s=%24NDX%3A%24INDU&p=D&b=5&g=0&i=t0152961406c&r=1692724602211

fast3777
fast3777

To all those bulls....a few days ago I posted about this decline had overlapped the prior up wave. Regarding Elliott rules that Killed your new high possibility. The Market is Morta....and the Spiral calendar is in play to boot. Which means new lows are coming. Have fun losing money in a cycle bear market. All world markets are headed lower.

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fast3777
fast3777

BTw bring up FRBK....just a sign of what's to come.

fast3777
fast3777

BKNG is in a small ending DT and Japan and BTC look to be breaking down. If so we will be in the start of 3 of 3 the strongest elliott wave down. Just my opinion....lets see what happens.

fast3777
fast3777

Dumping the banks as I write this.

fast3777
fast3777

Macy's get's a haircut and the rating agencies do the same to the Banks...the writing is on the wall. I'll be waiting for Peter and if any new downside projections have been generated. Thanks Peter,exciting times.

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