SMC Update Week Ending 11-03-23 Recorded 11-04-23

11/04/2023


Comments (16)
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brian1469
brian1469

Thanks Peter! Should be another exciting week

tmbestbuy2375
tmbestbuy2375

Thanks for taking the time. Great update. Very informative.

fast3777
fast3777

Peter,Thank you. No other analysis seems to make sense in this market. Just too much money and manipulation. The only metric that makes any sense is your valuation ratio. This market will turn down sooner than later. It could happen anytime now.

Last updated

johngreen01554628
johngreen01554628

fast3777 said:

Peter,Thank you. No other analysis seems to make sense in this market. Just too much money and manipulation. The only metric that makes any sense is your valuation ratio. This market will turn down sooner than later. It could happen anytime now.

Could we get Double top before real leg down?

See also how low the VIX is, No positive divergence like 2022 top.

Why can't NDX/Dow ratio can't get back to 45 or 46. Could happen within 14TD

NAAIM Exposure Index is low like everyone is bearish. need more Bulls. With higher prices?? Cascading new 30 min higher projection???

https://stockcharts.com/freecharts/gallery.html?!NAAIM

daniel039209
daniel039209

I dont recall which day the video showed the US Dollar in a "topping formation" I tried to explain, if the US Dollar is going to weaken, that is very bullish for stocks- surprised Peter never mentioned that point. I wonder if that helped the SPX go up 5.8% in 5 days. I will watch this 55 min video later. I dont know if video is bullish or bearish, but why start Monday with a negative viewpoint after best rally of year, and i waited till Thurs to short with the "above levels" and still got run over.

brian1469
brian1469

fast3777 said:

Peter,Thank you. No other analysis seems to make sense in this market. Just too much money and manipulation. The only metric that makes any sense is your valuation ratio. This market will turn down sooner than later. It could happen anytime now.

Last week was crazy when you look at all the liquidity from Bank Of Japan and change in move of rates from Yellen's move. This chart shows it. It was essentially like JPOW cut rates on Wednesday. https://twitter.com/BlacklionCTA/status/1721506226461188537

Also the worst thing about all this that is going on is it is very bad if you live in the United States. It is showing our Treasury market is becoming like a emerging market. It is absolutely crazy that people are celebrating this. https://twitter.com/GraphFinancials/status/1721325011812663452

Last updated

brian1469
brian1469

johngreen01554628 said:

fast3777 said:

Peter,Thank you. No other analysis seems to make sense in this market. Just too much money and manipulation. The only metric that makes any sense is your valuation ratio. This market will turn down sooner than later. It could happen anytime now.

Could we get Double top before real leg down?

See also how low the VIX is, No positive divergence like 2022 top.

Why can't NDX/Dow ratio can't get back to 45 or 46. Could happen within 14TD

NAAIM Exposure Index is low like everyone is bearish. need more Bulls. With higher prices?? Cascading new 30 min higher projection???

https://stockcharts.com/freecharts/gallery.html?!NAAIM

I believe that NAAIM is a slow number. When positioning is already like this. "Thursday saw the largest 1-day increase in SPX gamma on our record – dealers are now long ~$4bn of SPX gamma and out of the short gamma regime that we mainly witnessed for the past two months"

I do think we can get a santa rally like you said though. I also think we could just chop around and go no where which the projections kind of have me believing with conflicting projections

Feels like we get up to the 4420's today

Last updated

brian1469
brian1469

daniel039209 said:

I dont recall which day the video showed the US Dollar in a "topping formation" I tried to explain, if the US Dollar is going to weaken, that is very bullish for stocks- surprised Peter never mentioned that point. I wonder if that helped the SPX go up 5.8% in 5 days. I will watch this 55 min video later. I dont know if video is bullish or bearish, but why start Monday with a negative viewpoint after best rally of year, and i waited till Thurs to short with the "above levels" and still got run over.

It will turn out to be an interventions just like last year by Yellen in October 2022. This explains it. But if Yellen wants higher stock prices we most like get a big rally into year end which we are already seeing. Yellen has to get Biden reelected so she can keep her job. https://twitter.com/LukeGromen/status/1721515994156310835

The bearish case is everybody realizes this government intervention isn't enough and we are screwed anyway just like 2008 and what not. Everybody is so mind controlled after the last 15 years of government intervention in the market it will be a hard nut to crack as we are seeing in Peter's work with the ratio. People just know the government will save them so why sell.

Last updated

daniel039209
daniel039209

Thanks for great long update. my takeaway; very glad you read some comments, i think fairly intelligent ones posted most of time. Last weekend update, you were severely bearish with massively lower downside targets. Okay, so we had a huge rally- how come you show the ES weekly is right 84% of time on upside and 100% of time on downside??? Not to mention since October 2022 when we were dancing on lows, you were ULTRA bearish. Same through December and January. Mostly until Late July, all of your bearish bias OBSERVATIONS were just flat out wrong. Yet you showed today you had a massive upside target since December. Wow. Didnt hear too much focus on that.
Yes, the IWM index is down 34% from high in November 2021.How long is average bear market? Probably takes about 19 months to recover. Do you think bear markets are the 'natural state of the markets'? I think having situational awareness is vital. Cannot be bearish, looking for the "immediate turn down" every single day. Do you think the number of stocks that drive innovation, make life what it is, advance health, drill for oil, etc, do you think the individual stocks always go down? It seems like money gets invested in stocks which causes prices to rise, NOT fall. When companies fail, prices fall, yes. For future updates, please include the points of crossing for ES futures that seem to nail every move in the past 14 months. That is worth pot of gold

daniel039209
daniel039209

https://twitter.com/bespokeinvest/status/1721527999822983378/photo/1

Hussman as anyone who has been on wall street for more than 20 years is 88% bearish. He has launched some funds or etfs, which is commendable, albeit, performance has probably approached -7% lower than T bonds since inception. What is it that some people always want to be the one "calling THEE top"? Situational awareness, my new mantra!

daniel039209
daniel039209

fyi im not a bull or a bear , i expect we are in a 5% trading band for next few months. If economy starts slipping, we fall 10% as recession looms.

johngreen01554628
johngreen01554628

brian1469 said:

johngreen01554628 said:

fast3777 said:

Peter,Thank you. No other analysis seems to make sense in this market. Just too much money and manipulation. The only metric that makes any sense is your valuation ratio. This market will turn down sooner than later. It could happen anytime now.

Could we get Double top before real leg down?

See also how low the VIX is, No positive divergence like 2022 top.

Why can't NDX/Dow ratio can't get back to 45 or 46. Could happen within 14TD

NAAIM Exposure Index is low like everyone is bearish. need more Bulls. With higher prices?? Cascading new 30 min higher projection???

https://stockcharts.com/freecharts/gallery.html?!NAAIM

I believe that NAAIM is a slow number. When positioning is already like this. "Thursday saw the largest 1-day increase in SPX gamma on our record – dealers are now long ~$4bn of SPX gamma and out of the short gamma regime that we mainly witnessed for the past two months"

I do think we can get a santa rally like you said though. I also think we could just chop around and go no where which the projections kind of have me believing with conflicting projections

Projection says Market needs to head south soon. Any sideways or up moves will mean new projection Higher. Need to do more 30 Min charts. Don't care about any long term projection. Just look at BTC, has big down projection. Did that help anyone?

Tuesday is another Turn date We will find out

johngreen01554628
johngreen01554628

daniel039209 said:

Thanks for great long update. my takeaway; very glad you read some comments, i think fairly intelligent ones posted most of time. Last weekend update, you were severely bearish with massively lower downside targets. Okay, so we had a huge rally- how come you show the ES weekly is right 84% of time on upside and 100% of time on downside??? Not to mention since October 2022 when we were dancing on lows, you were ULTRA bearish. Same through December and January. Mostly until Late July, all of your bearish bias OBSERVATIONS were just flat out wrong. Yet you showed today you had a massive upside target since December. Wow. Didnt hear too much focus on that.
Yes, the IWM index is down 34% from high in November 2021.How long is average bear market? Probably takes about 19 months to recover. Do you think bear markets are the 'natural state of the markets'? I think having situational awareness is vital. Cannot be bearish, looking for the "immediate turn down" every single day. Do you think the number of stocks that drive innovation, make life what it is, advance health, drill for oil, etc, do you think the individual stocks always go down? It seems like money gets invested in stocks which causes prices to rise, NOT fall. When companies fail, prices fall, yes. For future updates, please include the points of crossing for ES futures that seem to nail every move in the past 14 months. That is worth pot of gold

ES future is the way to go. Most likely will still be looking for Huge crash

brian1469
brian1469

Went super short here at the close.

If we are going to turnaround back down needs to happen here and now into tomorrow

Also the NQ missed it's 24 daily upper projection by 10 points today. I'm not currently trading it but we could reverse from here by looking at the projections if that is enough to suffice the 24

Last updated

XXSPOWER127
XXSPOWER127

PROJECTIONS

HIGHER

/ES 4500 ON THE 24.2

/NQ WILL GET 12.1 HIGHER AFTER TODAY CLOSE /NQ HAS HIGHER 24.2 ALREADY

THEN YOU THINK 48 WONT? LOL OK

POWELL "NEWS" DRIVEN EVENT ON WED AND THURS LETS SEE IF IT MOVES MARKETS

johngreen01554628
johngreen01554628

XXSPOWER127 said:

PROJECTIONS

HIGHER

/ES 4500 ON THE 24.2

/NQ WILL GET 12.1 HIGHER AFTER TODAY CLOSE /NQ HAS HIGHER 24.2 ALREADY

THEN YOU THINK 48 WONT? LOL OK

POWELL "NEWS" DRIVEN EVENT ON WED AND THURS LETS SEE IF IT MOVES MARKETS

Thank you

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