SMC Update 8-9-23

08/09/2023


Comments (7)
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fast3777
fast3777

A running correction looking for a reversal down at some point....short squeeze. This would be wave c of wave 2

daniel039209
daniel039209

are we above any important levels? Or are we in resistance levels on continuum? that is much more valid then, we are about to go down like 2000 or 2022. my gosh.

daniel039209
daniel039209

on NQ_z was is 15260 or 15360? i like 15360 resis better

fast3777
fast3777

The main takeaway is the NDX does not confirm the move in the Dow. The divergence is striking and this short squeeze gives the pros their last chance to get short above 4500 in the SPX.

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fast3777
fast3777

So far a reversal and this mornings rally left a classic head and shoulders top in the Dow daily. Today was the right shoulder of the formation. AAPL is up less than a $...

fast3777
fast3777

Working on a really bearish candle. This should be the start of a 3rd wave down(finally).

fast3777
fast3777

brian1469 said:

Chris Carolan talking about his panic necklace and August 2023. Thought some of you would like this interview.

https://www.youtube.com/watch?v=xChu3k7FueI&t=8s&ab_channel=TradeGateHub

Thanks Brian, Incredible day as I think the big money engineered this shooting candle rally to get short above 4500 SPX. So Chris Carolan(a tech cycle guy from way back) kind of like Arch Crawford. Anyway he has August 2023 as a candidate for a Panic. Those cycles go back to the birth of our Nation in 1763... IIRC Peter touched on a similar string of cycles. If we do get a panic,we might see a bottom in 54 trading days from today. That should put us in October. Very troubling that AAPL closed lower. Also a wicked candle printed in the daily Dow. Tomorrow could be a smash or a non event. We shall see.

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