SMC Update Week Ending 2-10-23 Recorded 2-11-23

02/11/2023


Comments (19)
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mahesh28k2207
mahesh28k2207

Thank you Peter 🙏🏻 Have Safe Travel .

dcarter8883312
dcarter8883312

Peter sending you Prayers & Strength. People are dropping like flies. I spent yesterday at a cousin’s funeral. Safe Travels 🙏~Dorothy

brian1469
brian1469

Safe Travels and sorry for your loss. Thanks for all the work you do for us

spencerdavis2000
spencerdavis2000

thanks for the great update. my condolences for your friend and his family. many prayers. safe travels.

brian1469
brian1469

Well tomorrow should be the day. Looking for a big pop off of CPI the questions will be will it last.

The DOW looks like it could be on the verge of breaking out. Still feel like it is the leader sinc ethe bottom.

Really feels like we go higher they just want to pump it. Still sitting in some long term shorts but I'm not expecting them to last. I feel like I will have to take them off

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elchico714622
elchico714622

brian1469 said:

Well tomorrow should be the day. Looking for a big pop off of CPI the questions will be will it last.

The DOW looks like it could be on the verge of breaking out. Still feel like it is the leader sinc ethe bottom.

Really feels like we go higher they just want to pump it. Still sitting in some long term shorts but I'm not expecting them to last. I feel like I will have to take them off

You mean to say, tmw is the day we drop like a stone.

brian1469
brian1469

elchico714622 said:

brian1469 said:

Well tomorrow should be the day. Looking for a big pop off of CPI the questions will be will it last.

The DOW looks like it could be on the verge of breaking out. Still feel like it is the leader sinc ethe bottom.

Really feels like we go higher they just want to pump it. Still sitting in some long term shorts but I'm not expecting them to last. I feel like I will have to take them off

You mean to say, tmw is the day we drop like a stone.

I hope you are right most things look like we are set up for a pullback including the projections need those 7/8's to hit on the downside to start it

All this crap going on in the world just has become such a distraction I feel like for national security reasons they are going to keep this thing going.

daniel039209
daniel039209

Was there a “point of no return” on upside ? NDX 12,550. SPX 4150 at moment
We have been above 200dma in SPX for many many days. Would take a break of that to make any bearish case.

brian1469
brian1469

daniel039209 said:

Was there a “point of no return” on upside ? NDX 12,550. SPX 4150 at moment
We have been above 200dma in SPX for many many days. Would take a break of that to make any bearish case.

We really don't have any upside projections except the ones way up but no short term so it seems like we need a pullback to go higher.

The worst thing is this fake pump this morning to the upside is going to make the midpoint much higher today. On the ES at least.

Also the upside projections can still get invalidated if we go below 3975 that is still feasible it seems like if we get a pullback

Last updated

daniel039209
daniel039209

brian1469 said:

daniel039209 said:

Was there a “point of no return” on upside ? NDX 12,550. SPX 4150 at moment
We have been above 200dma in SPX for many many days. Would take a break of that to make any bearish case.

We really don't have any upside projections except the ones way up but no short term so it seems like we need a pullback to go higher.

The worst thing is this fake pump this morning to the upside is going to make the midpoint much higher today. On the ES at least.

Also the upside projections can still get invalidated if we go below 3975 that is still feasible it seems like if we get a pullback

thank you Brian1469, appreciate it

brian1469
brian1469

daniel039209 said:

brian1469 said:

daniel039209 said:

Was there a “point of no return” on upside ? NDX 12,550. SPX 4150 at moment
We have been above 200dma in SPX for many many days. Would take a break of that to make any bearish case.

We really don't have any upside projections except the ones way up but no short term so it seems like we need a pullback to go higher.

The worst thing is this fake pump this morning to the upside is going to make the midpoint much higher today. On the ES at least.

Also the upside projections can still get invalidated if we go below 3975 that is still feasible it seems like if we get a pullback

thank you Brian1469, appreciate it

daniel039209 said:

brian1469 said:

daniel039209 said:

Was there a “point of no return” on upside ? NDX 12,550. SPX 4150 at moment
We have been above 200dma in SPX for many many days. Would take a break of that to make any bearish case.

We really don't have any upside projections except the ones way up but no short term so it seems like we need a pullback to go higher.

The worst thing is this fake pump this morning to the upside is going to make the midpoint much higher today. On the ES at least.

Also the upside projections can still get invalidated if we go below 3975 that is still feasible it seems like if we get a pullback

thank you Brian1469, appreciate it

Also I just checked we hit the 24.2/27.6 upside projection on that spike on the YM Dow. I'm going short here on it.

This was big because now the only upside projection's on the daily's we have on the ES, NQ, and YM is the 48 on the ES way up at like 4400. That can be invalidated if we get a pullback to below 3975.

I believe because of all this I think a pullback should happen and we can see if it becomes the big leg down Peter has been saying to look for.

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brian1469
brian1469

Here we go again Somebody is manipulating the Volatility. Feels like distribution

elchico714622
elchico714622

Ouch, there goes our puts smh

srblack1960144
srblack1960144

After the close today the SPX daily closing price chart, 189/194 offsets, will have a CONFIRMED projection to 4586, and the SPX median price chart, 189/194 offsets, will have a CONFIRMED projection to 4663. Just sayin'. :) Shorter term things should be running out of gas soon. Oh...and after this week is over, the weekly chart, 39/40 offsets, should confirm a projection to 4728, wow.

Last updated

brian1469
brian1469

srblack1960144 said:

After the close today the SPX daily closing price chart, 189/194 offsets, will have a CONFIRMED projection to 4586, and the SPX median price chart, 189/194 offsets, will have a CONFIRMED projection to 4663. Just sayin'. :) Shorter term things should be running out of gas soon. Oh...and after this week is over, the weekly chart, 39/40 offsets, should confirm a projection to 4728, wow.

Still time left in the week. Shouldn't we get a 7/8 downside projection on the SPX today if we continue lower. If we do I believe that gives us a shot to invalidate the 48 daily upside projection if we would hit the 7/8 lower. We really need to invalidate the 48 upside to give us a shot at more downside.

The ES is going to give us a downside 7/8 today down to 4020 minimum i believe by looking at the app. With a pullback there we will then we should be able to get a better read on what is going to happen to these upside projections

The projections tell us how crappy this market is to trade. We have one upside target on the daily's the 48 on the ES it was given on 11/30/22 and the level it was then was 4130 the same freaking level we are at today 2/14/23. In the meantime you get 100-150 point swings daily that make even selling premium uncomfortable and then you end up even on the indices for the day.

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jshemanski49196
jshemanski49196

We have 2 closes above the exponential 10 day MA on the major indexes (Peter's favorite short-term timing indicator), by the way.

brian1469
brian1469

jshemanski49196 said:

We have 2 closes above the exponential 10 day MA on the major indexes (Peter's favorite short-term timing indicator), by the way.

What is real crazy is we could get an upside projection on the 3/4 and then a downside projection on the 7/8 if we close right around this 4152 ES level at the close. Will have to wait an see

The market is moving down now that it is closed I believe we should only get the 7/8 downside projection on the ES

Last updated

brian1469
brian1469

srblack1960144 said:

After the close today the SPX daily closing price chart, 189/194 offsets, will have a CONFIRMED projection to 4586, and the SPX median price chart, 189/194 offsets, will have a CONFIRMED projection to 4663. Just sayin'. :) Shorter term things should be running out of gas soon. Oh...and after this week is over, the weekly chart, 39/40 offsets, should confirm a projection to 4728, wow.

I see the 39/40 on the web app already is up. But it still can be invalidated pretty easy if we can get below 4000 in the next three weeks just like the 48 on the daily's.

Can I ask you since you have the software did the 7/8 on the SPX give a downside projection today? That would give us a clue about the projection of the downside

Also maybe the IWM is leading it has a very bearish set up already in motion and has the 100/110 to the downside already confirmed

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dcarter8883312
dcarter8883312

Welcome Home Peter, Looking Forward to your update this evening especially on ESH & SPX. ~Dorothy

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