SMC Update Week Ending 5-6-22 Recorded 5-7-22.

05/07/2022


Comments (3)
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RichB
RichB

The CBOE put/call ratio 5 days average is no where near a peak associated with big selloffs.

brian1469
brian1469

That TLT chart and projections are pretty significant

nimishtrading263
nimishtrading263

Peter and everyone, I would like to mention something quite amazing. If you draw a parallel channel (with mid-channel) on the DJIA log chart joining the high in 1929 to the low in 1932 to the ATH in January 2022 and then subdivide this channel into 4 quarters using the mid-channel each time then you will witness wonderful price reaction to all the channel lines and mid-channel lines. Then if you keep subdividing these "quarter channels" into further channels using the mid-channel each time on the Daily chart for the past two years then you also witness wonderful price reaction to these lines as well. It truly is amazing. The multi-decade chart tells us that price reached a definite top in January and the November 2021 high also touches the top trendline of this parallel channel. The only thing that remains is to guess which "quarter channel" price will go down to. I would guess it is the mid-channel of this multi-decade channel where DJIA would be in the 11000s at the end of this year. Other targets may be 15000s or 13000s. Peter....please try this. It's a real eye opener.

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