SMC Update 8-5-21

08/05/2021


Comments (10)
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donptrsn324
donptrsn324

HEY PETER,,,ON MY SPX 7/8 DAY IT STILL SHOWS GREEN...NOT INVALIDATED...THIS HAPPENED ONCE BEFORE ON TESLA,,,AND IT TURNED OUT TO BE YOURS THAT WAS WRONG...THX...

Jon
Jon

Mine shows green too for upside projection of of 4526 on the 7/8 offset. on my chart it shows yesterday downside projection invalidated and did not give the upside projection that you show that has been met today on the 7/8. Wonder why the discrepencies....is there an update to the software?

donptrsn324
donptrsn324

Jon said:

Mine shows green too for upside projection of of 4526 on the 7/8 offset. on my chart it shows yesterday downside projection invalidated and did not give the upside projection that you show that has been met today on the 7/8. Wonder why the discrepencies....is there an update to the software?

HE MAY HAVE HAD THE NIC FILTER ON

chris_chapman255
chris_chapman255

Hi Peter, you used to show the advance/decline line on a regular basis but we haven’t seen it for quite some time. Thanks

Optimus
Optimus

Thank you, Peter. So, Nasdaq is getting close on the projections and just today, with QQQ closing above 369, NQ met Demark's indicator of the 13 count. Interesting and exciting times. Perhaps SPX will also meet the 13 count soon if it can make a higher high (above 4430) and close above 4419 (higher low). 13 count is not 100% but it points to the market being exhausted. About time and a big confirmation.

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XXSPOWER127
XXSPOWER127

donptrsn324 said:

Jon said:

Mine shows green too for upside projection of of 4526 on the 7/8 offset. on my chart it shows yesterday downside projection invalidated and did not give the upside projection that you show that has been met today on the 7/8. Wonder why the discrepencies....is there an update to the software?

HE MAY HAVE HAD THE NIC FILTER ON

Optimus said:

Thank you, Peter. So, Nasdaq is getting close on the projections and just today, with QQQ closing above 369, NQ met Demark's indicator of the 13 count. Interesting and exciting times. Perhaps SPX will also meet the 13 count soon if it can make a higher high (above 4430) and close above 4419 (higher low). 13 count is not 100% but it points to the market being exhausted. About time and a big confirmation.

Can you show a link or elaborate on DEMARK 13 count? Google does not show much.

Optimus
Optimus

XXSPOWER127 said:

Optimus said:

Thank you, Peter. So, Nasdaq is getting close on the projections and just today, with QQQ closing above 369, NQ met Demark's indicator of the 13 count. Interesting and exciting times. Perhaps SPX will also meet the 13 count soon if it can make a higher high (above 4430) and close above 4419 (higher low). 13 count is not 100% but it points to the market being exhausted. About time and a big confirmation.

Can you show a link or elaborate on DEMARK 13 count? Google does not show much.

Sure. My reference to DeMark's Indicator was from a Youtube clip posted by a fellow member on Tuesday (from Cramer's show). Although I no longer follow Cramer, my ears perk up when he talks about TA. The metrics of QQQ closing above 369 and the ones for SPX came from Cramer himself. (I don't have DeMark's software to confirm this). Here is the link to the video: https://www.youtube.com/watch?v=Cfj5DkvlvQE
Also, I saw an article on SA which points out that the 13 count indicator fails during bull markets but seems to align with seasons, perhaps like the one we are in now. Even if it works, it may not work right away; just don't want to be caught in a confirmation bias. Having said that, I did nibble in on QID on Friday.
Finally, For learning purposes, DeMark has his own old videos on Youtube and there is at least one book on Amazon on this. The one I am thinking of is called DeMark Indicators by Jason Perl. (Includes a forward by the man himself) if you want more details on his indicators, including the sequential indicators. It's on my reading list. Thanks.

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Optimus
Optimus

Peter, if you could please talk about the A/D line. A counter view is that the NYSE Adv/Dec are in favors of advancers again as the indexes made new highs.

Peter Eliades
Peter Eliades

donptrsn324 said:

HEY PETER,,,ON MY SPX 7/8 DAY IT STILL SHOWS GREEN...NOT INVALIDATED...THIS HAPPENED ONCE BEFORE ON TESLA,,,AND IT TURNED OUT TO BE YOURS THAT WAS WRONG...THX...

Thank you to all subscribers for keeping me on my toes. Remember, we have two projection techniques on the daily charts. Bar chart intra-day highs and lows and closing price projections. As it turns out, the closing price projections on SPX show the 7-8 day offset being invalidated. I perhaps ended up confusing subscribers by using the closing price projection technique for the 7-8 day offsets but at the same time showing intra-day bar charts. That was my fault and I apologize for leading to some confusion. On my intra-day 7-8 with the S&P I agree that the projection box is still green. I discuss the 7-8 on the weekend update. As to the comment that perhaps there has been an update to the software, please be assured that unless there is a very major change in my interpretation of the Hurst cycles, no software change will change projections. If there is a disagreement between what I show and what appears on your software package, it will almost always be attributable to one of two factors. 1)One of us is using "close" projections and the other "medianprice" projections or 2) One of us has applied a "nick filter" of some duration and the other has not. Thanks to all who called this to my attention and I hope I have clarified the picture... Peter

Peter Eliades
Peter Eliades

Please see my comment above...

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