SMC Update Week Ending 7-5-24 Recorded 7-6-24

07/06/2024


Comments (4)
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Heinz75
Heinz75

Sorry to hear about your kidney stone battle Peter, been there, done that. Find a good urologist and best wishes to you.

daniel039209
daniel039209

Question; what happened to the "highest possible NDX" levels? We have blown through all of your highest possible levels. And once again, I will never understand that you put so much emphasis on the upper channel line in a MAJOR uptrend. Tell me, where is that upper channel line value in 2 months, 6 months, 14 months? Higher maybe? You have such a bearish bias, you cannot see - since Oct 2022- any positive developments. And you have splashed Hussmans' dire warnings for no less than 10-11 months about how the market will return some %age LESS than bonds. How has that played out? or is it still intact theory? And why exactly do you say, "the market should turn down in earnest" starting today? What proof is there? Any downside projections on your work?

csamsd834
csamsd834

I've never seen a reply to a comment. Is there another section here? The value had always been the projections, not the commentary expecting a top for months and years. WE get it. The market is expensive. Valuations appear high. But gaming a top is a great way to go broke

daniel039209
daniel039209

csamsd834 said:

I've never seen a reply to a comment. Is there another section here? The value had always been the projections, not the commentary expecting a top for months and years. WE get it. The market is expensive. Valuations appear high. But gaming a top is a great way to go broke

explain that to Peter- who has been doing this for 49.7 years. He has been calling for LOWER for the last 9500 NDX points. One would be broke if bailed or shorted market every 3 days on his "this is the highest we can go" call. He did similarly from Feb/Mar 2021. Market ran huge(12,700 to 16,500) until it did top late Dec/Early Jan 2022. But that was interest rates about to go up with 7 raises. , even if we "crashed" 8% tomorrow, we would be at beginning of June levels. That is how much this past month that has been lost or missed.

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