SMC Update Week Ending 5-26-23 Recorded 5-28-23

05/28/2023


Comments (20)
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brian1469
brian1469

Thanks Peter we hit the upside projections on the ES 96 daily and 5 weekly on the opening print tonight. Both were starting at 4233. they had been there for months though good to finally hit them.

Only have one left up at 4256 on the 20 weekly. Running out uppers to hit on the ES and the NQ has none left.

spencerdavis2000
spencerdavis2000

Hey Peter. Not sure if you noticed but finally on Friday May 26, your birthday (Happy Birthday :-) the @ES weekly is finally giving CONFIRMED long term downside projections 100/110 from high: 3566 to mid: 3350 to low: 3152 just came in. So now all 3 @NQ, @ES and @YM are all giving downside projections for weekly chart of 100/110 offsets. Interesting the @ES weekly 100/110 downside projections confirmed on your Birthday :-) That might be one of the best birthday presents ever!

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brian1469
brian1469

spencerdavis2000 said:

Hey Peter. Not sure if you noticed but finally on Friday May 26, your birthday (Happy Birthday :-) the @ES weekly is finally giving CONFIRMED long term downside projections 100/110 from high: 3566 to mid: 3350 to low: 3152 just came in. So now all 3 @NQ, @ES and @YM are all giving downside projections for weekly chart of 100/110 offsets. Interesting the @ES weekly 100/110 downside projections confirmed on your Birthday :-) That might be one of the best birthday presents ever!

It is real crazy this is the moment we have been waiting for all YM, ES, NQ, and IWM all with long term 100/110 to the downside projections. NQ with no higher projections. ES with only one the 20 weekly up at 4256 we missed it by 10 points last night.

Maybe Peter can chime in but sure seems like this would mean a top using the projections system. It has also been the most pain I have felt in a long time being short. Which is probably a good thing.

Will have to see what happens

daniel039209
daniel039209

NDX up some 1400 points and SPX up no less than 150. And that is just this month. In any other world that’s an insanely amazing quarterly/ half year/ even a year return. Someone tell me this video has a different tone. Costing me money. I’m not watching till something changes. Intellectual honesty would be a start. Markets look forward. Last year we had a bear market in tech. Congratulations to all who keep playing for continuation. It’s not there.

brian1469
brian1469

daniel039209 said:

NDX up some 1400 points and SPX up no less than 150. And that is just this month. In any other world that’s an insanely amazing quarterly/ half year/ even a year return. Someone tell me this video has a different tone. Costing me money. I’m not watching till something changes. Intellectual honesty would be a start. Markets look forward. Last year we had a bear market in tech. Congratulations to all who keep playing for continuation. It’s not there.

The worst thing about it is the projections were there the whole time but a lot of us me included ignored them and was thinking it was going to be a sell in May and go away.

The story is different on the projections now we have hit almost all the upper projections and have 100/110 downside confirmed on all the futures.

So I will say I was real stupid not waiting for now to put on a short because it is telling us we are due for a pull back now will just have to see what happens from there to see if it turns into a reversal.

I will say as far as the QQQ and tech trade it amazes me that we went from tech being done to now the most important thing to ever happen to it with AI in a span of 5 months. I mean did nobody know about AI at the end of December when we were at the QQQ lows still. Just shows what a rising market can do to everybody's feelings about something

Another thing about AI that is crazy is it actually might be the most deflationary thing to ever happen to us. I don't understand the current economy if 30-40% of people lose their career. Interesting times

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daniel039209
daniel039209

Brian- The worst thing about it is the level of bearishness and disregard for key events on way up. ( engulfing bullish candle March 17 week). Only focus on the negative, another down trend line, another cycle. Disregarding we went above 10, 20 ,50, 100,200 moving averages. Total disregard, in t opinion. And then to sprinkle in Hussmans’ overvaluation. Sure , some stuff is overvalued - take as old as time. Never used as “market timing”. Hussman- negative since 2013. I won’t watch these till day after. I just know there is another newly found 199.78 day cycle that may have coincidentally was near a high or low. How would one ever believe the next “real call”? That’s what I want to know. So much fear all the way up 30-33%

ericoh792283
ericoh792283

NQ futures up 165 points in AM. There’s too many shorts, market will continue to grind up in new bull market that started in October. I think Peter once again will realize how his bearish narrative caused many subscribers a lot of money and pain.

ericoh792283
ericoh792283

NQ futures up 165 points in AM. There’s too many shorts, market will continue to grind up in new bull market that started in October. I think Peter once again will realize how his bearish narrative caused many subscribers a lot of money and pain.

ericoh792283
ericoh792283

I’ve been studying many Technical analysis on how Vix has been trading, most experts say this is bullish, not bearish like Peter seems to dig his heels on.

XXSPOWER127
XXSPOWER127

BEEN TELLING YOU GUYS WATCH THE PROJECTIONS AND THERE IS MORRRRRRE GREEN!

XXSPOWER127
XXSPOWER127

Dorothy what did you say about LONG .. LONG being emphasized and weekends? not short right ?

XXSPOWER127
XXSPOWER127

/nq will be up 400 + today, an overshoot from Friday continuation and $SPX EASY PEASY 4270 === 4300 / ES

DIA UP NEXT LETS GET IT !!@!

bcanary964
bcanary964

I have a question about the ES. People are saying the upside projections have been hit, but if you use a nick filter of just 1 or 2 on the 48.4 offset, wouldn't the upside projections still be valid, and they go all the way up to 4600. When they were invalidated, Peter said to watch because they were just barely invalidated and if we keep going up then we have to pay attention. Well, it's been going up.

Ken12341429
Ken12341429

nvda. think atlantic city, resorts international. where is it now

brian1469
brian1469

bcanary964 said:

I have a question about the ES. People are saying the upside projections have been hit, but if you use a nick filter of just 1 or 2 on the 48.4 offset, wouldn't the upside projections still be valid, and they go all the way up to 4600. When they were invalidated, Peter said to watch because they were just barely invalidated and if we keep going up then we have to pay attention. Well, it's been going up.

This is something to pay attention to for sure but for now it is still a ways off. We just hit the 24 invalidated daily, the 96 daily, the 5 weekly with this move up we still have the weekly 20 to hit at 4258. It seems to me it was important to hit all of those first and see were we go from here.

The 10 weekly also got invalidated and it has a similar range to the 48.4 daily

brian1469
brian1469

Strangest market ever. Dow can't catch a bid, SPX just got a bearish cluster on the weekly market forecast its move probably stalls, NQ full on bubble which could go all the way to 15k, Russell still can't get going. Wish I would of sat this one out I can't make any sense of it

XXSPOWER127
XXSPOWER127

brian1469 said:

Thanks Peter we hit the upside projections on the ES 96 daily and 5 weekly on the opening print tonight. Both were starting at 4233. they had been there for months though good to finally hit them.

Only have one left up at 4256 on the 20 weekly. Running out uppers to hit on the ES and the NQ has none left.

WRONG

GO TO /NQ GO TO 48 GO TO DAILY 48.4. 55.3 THEN TAKE YOUR MOUSE AND THEN CLICK " WEEKLY " WHILE ON 48.4

SEE HOW HIGH ?

YOU CAN DO THAT WITH ALL THE OTHERS

THIS IS WHY HE DOES NOT SHOW ANYTHING HE JUST DOES VIX VXX BLAH BLAH

XXSPOWER127
XXSPOWER127

WEEKLY /NQ MATCHES WITH THE UPPER " PRELIM " 48.4 // 110 WEEKLY ( ONCE IT GETS INVALIDATED ) HILARIOUS !!!

brian1469
brian1469

XXSPOWER127 said:

brian1469 said:

Thanks Peter we hit the upside projections on the ES 96 daily and 5 weekly on the opening print tonight. Both were starting at 4233. they had been there for months though good to finally hit them.

Only have one left up at 4256 on the 20 weekly. Running out uppers to hit on the ES and the NQ has none left.

WRONG

GO TO /NQ GO TO 48 GO TO DAILY 48.4. 55.3 THEN TAKE YOUR MOUSE AND THEN CLICK " WEEKLY " WHILE ON 48.4

SEE HOW HIGH ?

YOU CAN DO THAT WITH ALL THE OTHERS

THIS IS WHY HE DOES NOT SHOW ANYTHING HE JUST DOES VIX VXX BLAH BLAH

I don't have the software I'm looking at the web app. But the 48.4 on the web app only goes to 13845 and that was invalidated but looks like if you put a nick filter in it would come back up. The old one from last summer goes 14489.

So I'm not seeing what you are saying, Peter anyway you could go over what X is saying

daniel039209
daniel039209

XXSPOWER127 said:

Dorothy what did you say about LONG .. LONG being emphasized and weekends? not short right ?

They were up 200+. So, XXS kinda right. Most of other , continuous bearish comments from many in here, are just acting in “echo chamber “ mode. I always quote Peter Lynch- and it’s true ; so much money & opportunity but real money LOST trying to pick top in AAPL NVDA SPX NDX. - than you would lose if market had a real correction. Truth

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