SMC Update Week Ending 1-12-24 Recorded 1-15-24

01/15/2024


Comments (10)
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rbillyea706
rbillyea706

Would it be useful to use a color other than grey to outline a target zone, since grey indicates an invalidated target?

brian1469
brian1469

This is the worst market I have ever tried to trade.

No doing much feels like total manipulation

CS37
CS37

brian1469 said:

This is the worst market I have ever tried to trade.

No doing much feels like total manipulation

Quarterly earnings coming in for the next couple of weeks. No one wants to take any chances, maybe? So, choppy price action with no extended direction.

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daniel039209
daniel039209

tough update with computer issues, sorry about that. Can you please go back to NDXE being what looks like ABOVE the blue line on WEEKLY chart? would invalidate much lower view point. thank you. I wonder also, if it is useful to this audience to spend approx 1/3 of updates on BTC. I have a sense more people on here are more tilted toward equities and some commodities , i doubt people have 33% of their money in Bitcoin. Just a hunch

CS37
CS37

daniel039209 said:

tough update with computer issues, sorry about that. Can you please go back to NDXE being what looks like ABOVE the blue line on WEEKLY chart? would invalidate much lower view point. thank you. I wonder also, if it is useful to this audience to spend approx 1/3 of updates on BTC. I have a sense more people on here are more tilted toward equities and some commodities , i doubt people have 33% of their money in Bitcoin. Just a hunch

Daniel: Got to admit, I'm in BTC and am taking a bit of a bath right now!

daniel039209
daniel039209

CS37 said:

daniel039209 said:

tough update with computer issues, sorry about that. Can you please go back to NDXE being what looks like ABOVE the blue line on WEEKLY chart? would invalidate much lower view point. thank you. I wonder also, if it is useful to this audience to spend approx 1/3 of updates on BTC. I have a sense more people on here are more tilted toward equities and some commodities , i doubt people have 33% of their money in Bitcoin. Just a hunch

Daniel: Got to admit, I'm in BTC and am taking a bit of a bath right now!

oh crap, sorry, i didnt mean to interrupt peters updates in products that people are in ! Sorry!.....Peter, disregard my request to cut back allotment on BTC products.

brian1469
brian1469

CS37 said:

brian1469 said:

This is the worst market I have ever tried to trade.

No doing much feels like total manipulation

Quarterly earnings coming in for the next couple of weeks. No one wants to take any chances, maybe? So, choppy price action with no extended direction.

CS I found this tweet interesting when I was complaining about the action today and how weird it felt.

On the NYSE, more than 85% of volume flowed into declining issues.

Yet the S&P 500 was down less than -0.5%.

Going back to 1962, I can find only one other time the S&P held up so well despite overwhelming downside volume.

That was November 27, 2007.

https://twitter.com/jasongoepfert/status/1747367171594878978

XXSPOWER127
XXSPOWER127

brian1469 said:

CS37 said:

brian1469 said:

This is the worst market I have ever tried to trade.

No doing much feels like total manipulation

Quarterly earnings coming in for the next couple of weeks. No one wants to take any chances, maybe? So, choppy price action with no extended direction.

CS I found this tweet interesting when I was complaining about the action today and how weird it felt.

On the NYSE, more than 85% of volume flowed into declining issues.

Yet the S&P 500 was down less than -0.5%.

Going back to 1962, I can find only one other time the S&P held up so well despite overwhelming downside volume.

That was November 27, 2007.

https://twitter.com/jasongoepfert/status/1747367171594878978

==>

I guess then this tweet the same guy did would be BULLISH and would contradict his 85/15 That is all hogwash

https://x.com/jasongoepfert/status/1746219219010654457?s=20

by the way THE prostate dude is at his house resting ( I SAW HIM ON TV ) SO he was not killed by KIEV BOMB ?

brian1469
brian1469

XXSPOWER127 said:

brian1469 said:

CS37 said:

brian1469 said:

This is the worst market I have ever tried to trade.

No doing much feels like total manipulation

Quarterly earnings coming in for the next couple of weeks. No one wants to take any chances, maybe? So, choppy price action with no extended direction.

CS I found this tweet interesting when I was complaining about the action today and how weird it felt.

On the NYSE, more than 85% of volume flowed into declining issues.

Yet the S&P 500 was down less than -0.5%.

Going back to 1962, I can find only one other time the S&P held up so well despite overwhelming downside volume.

That was November 27, 2007.

https://twitter.com/jasongoepfert/status/1747367171594878978

==>

I guess then this tweet the same guy did would be BULLISH and would contradict his 85/15 That is all hogwash

https://x.com/jasongoepfert/status/1746219219010654457?s=20

by the way THE prostate dude is at his house resting ( I SAW HIM ON TV ) SO he was not killed by KIEV BOMB ?

Yea I don't follow that guy so I don't know much about his track record just thought it was interesting on how weird the the action was.

I haven't seen the film on Austin yet I need to go find the story. Unfortunately the war has defiantly picked up from last week.

Lol Biden still hasn't spoken to him though. https://www.cnn.com/2024/01/16/politics/joe-biden-lloyd-austin-release/index.html

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CS37
CS37

brian1469 said:

CS37 said:

brian1469 said:

This is the worst market I have ever tried to trade.

No doing much feels like total manipulation

Quarterly earnings coming in for the next couple of weeks. No one wants to take any chances, maybe? So, choppy price action with no extended direction.

CS I found this tweet interesting when I was complaining about the action today and how weird it felt.

On the NYSE, more than 85% of volume flowed into declining issues.

Yet the S&P 500 was down less than -0.5%.

Going back to 1962, I can find only one other time the S&P held up so well despite overwhelming downside volume.

That was November 27, 2007.

https://twitter.com/jasongoepfert/status/1747367171594878978

Brian: Well, that date is rather ominous, isn't it? Just before the beginning of the Bear Stearns failure that triggered the financial crisis of 2007-2008.

https://www.thestreet.com/banking/bear-stearns#:~:text=By%20March%2011%2C%202008%2C%20when,Bear%20Stearns%20was%20bankrupt.

Although circumstances have changed since 2007-2008, the list of potential "black swan" events that could happen today are just as numerous. Anything from a Supreme Court decision to ban Trump from the Presidential ballot triggering domestic unrest, to further escalation of war in Ukraine or Gaza, to the collapse of the Chinese economy due to their real estate failures. Man! The list grows longer everyday, it seems! :(

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