SMC Update Week Ending 4-28-23 Recorded 4-30-23

04/30/2023


Comments (10)
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MJMassens2570
MJMassens2570

I've seen several seasonality charts for pre-election year showing a big pullback starting early May. Wouldn't be surprised to see a peek around 4200 then a visit to 3950.

MJMassens2570
MJMassens2570

If I was bullish due to pre-election year seasonality, and looking for the recession to hit in very late 2023 or in 2024, I'd consider VIX with these trend lines. This is a 1month chart, but is just as effective in a 3month Quarterly time frame view. There's possible "liquidity" to stop hunt around the 14 area (a wick at 14.10), before a big retrace to upside on VIX. Note the monthly closing 15.77 roughly matches the lowest closing since all of Covid began! 15.84 in June 2021 was lowest close since 2019, until now! Wow! These are just my own musings. I trust the SP and NDX projections more than my lines. https://www.tradingview.com/x/hGWcGOeU/

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brian1469
brian1469

Thanks Peter! Glad you had a good trip.

I'm really hoping we can get to the 4230-50 area and close out all these upper projections on the ES.

Seems like it would be a great spot to finally have the projections in our favor as I believe all upper projections would be met and the 48 the higher one got invalidated last week.

Wouldn't be surprised if we got a FED spasm move up there this week

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stantastique4055
stantastique4055

How many bear market years are in that 25 year VIX history? Isn't that something like 5 years? is it possible that we need much more data to test this VIX rule?

daniel039209
daniel039209

what is so difficult to understand is from Wednesdays update the SPX advanced 120 points, the NDX advanced over 400 points. that is on top of the 300 spx point gain and 2000 point gain on NDX. And the focus is still on "the bear market" about to re assert itself. The bear market and VIX. This has been an annihilation of short positioning. Yet, if you just say "bear market" does the 2000 point MISS on upside make everyone feel better? i have dozen times : THIS IS NOT 2000-03 nor 2007-09 bear market not at all. And onde daywhen we are much higher, there will be a mea culpa. Hope that makes everyone feel good about missing one of the most amazing rallies in a while. And maybe focus on individual names NOT trying to pick 100 500 wilshire 5000 anyone? to make predictions.

daniel039209
daniel039209

wait , is this a more bullish update? lots of upside being shown in NDX? any help appreciated

dcarter8883312
dcarter8883312

Welcome Home Peter: When barely meeting upside projections please click on bar so we can see upper band of the higher projections. Please cover SPX & ESM projections more often Vs EW SPX . I am curious what the upper projections are on NDX not met yet. I do think we have one more push up this week. Apple’s Tim Cook is the Master of orchestrating Good EPS. Thanks~ Dorothy

daniel039209
daniel039209

dcarter8883312 said:

Welcome Home Peter: When barely meeting upside projections please click on bar so we can see upper band of the higher projections. Please cover SPX & ESM projections more often Vs EW SPX . I am curious what the upper projections are on NDX not met yet. I do think we have one more push up this week. Apple’s Tim Cook is the Master of orchestrating Good EPS. Thanks~ Dorothy

I second Dorothy's request. NO one trades the EW SPX .

thomblas2051
thomblas2051

Please include Apple, nivida, Tesla in web app

Cosmic Consciousness
Cosmic Consciousness

thomblas2051 said:

Please include Apple, nivida, Tesla in web app

I agree

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