SMC Update Week Ending 3-24-23 Recorded 3-25-23

Sun, 03/26/2023 Sunday, 03/26/2023 1:22 AM PDT


Comments (15)
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m1.c70
m1.c70

Thanks Peter!

Doktorn
Doktorn

Hi I'm new here. Coming from Elliot Wave and finding this is a really interesting perspective. Thank you!

Yadunath
Yadunath

The markets tend to go up post-Mar, or starting sometime in Apr. Needless to say, this time the seasonality seems to be at odds with the broader medium term prediction. It's anybody's guess as to what it means from a trading perspective, it's going to be lot of learning I guess. Let's continue to keep a close watch.

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markanderson22111352
markanderson22111352

Hello Peter. As always, your analysis is very informative. However, based on some of the mixed signals you mentioned, what are your thoughts about the market being in a trading range that may last a few weeks or month or two?

coding101
coding101

Notice that the 2-Year Note is now below the FED Funds Rate.

jwkim33366
jwkim33366

In addition to the 4090 upward projection on SPX, we also have confirmed projections on NQ daily to 13,700 or so on the 48.4 offset.

daniel039209
daniel039209

I’m going to watch this mid day Monday. It’s too hard to have an almost daily bearish view bearish view- (such as “resistance in SPX 3947”- only to have market trade 3970 and Sunday night E mins up to Hi of 3997. The market has shown everyone you have to open to rallies. individual stocks is where the performance is. Not estimating what 500 stocks will do or since we abandoned NDX and then DIA , we are onto Willshire 5000. Impossible to know what 500, 2000, 5000 stocks are headed. Stocks have moved 20-30-50-112%. SPX is in a 2-6% range. Be open minded everyone, you can’t show up expecting thunderstorms and hurricanes every day

helene3835
helene3835

Banks and REITs --which have led this decline --appear to be setting up for a near-term rally. Closed WFC puts Friday. This may take the SPX back up to 4078 range, if 4000 is breached.

helene3835
helene3835

Note that Peter's analysis had identified SPX 3909 short-term low last week, which was met Friday morning.

dcarter8883312
dcarter8883312

Peter, Please go over DJIA Projections Up & Down Thanks~D

dcarter8883312
dcarter8883312

Before throwing in the towel to the downside I have to wait for a turn date I’ve mentioned before coming in on March 28th which should be a peak. IF rally fails markets should go down into April 10-12th window. ~Dorothy

dcarter8883312
dcarter8883312

erik.jonhagen4237 said:

Hi I'm new here. Coming from Elliot Wave and finding this is a really interesting perspective. Thank you!

Erik: Welcome 🙏 Peter is a Huge Upgrade from Elliott especially if it was Steven H. you were following.
~Dorothy

dcarter8883312
dcarter8883312

Looks like the dead cat bounce in banks is over.
ZION, FRC, PNFP NEAR LOWS For day.

dcarter8883312
dcarter8883312

Peter, Your NDX might be reclaiming leadership? NAZDAQ -114.50 close to making a Outside Day reversal. ~Dorothy

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dcarter8883312
dcarter8883312

⭐️⭐️⭐️⭐️General AAPL Is Rolling over

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