SMC Update Week Ending 7-9-21 Recorded 7-10-21

07/10/2021


Comments (8)
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dr191103
dr191103

Peter this is a classic example of how a shorter term projection can causing erroneous statistical computation. You show that an upside projection was given and met on the S&P on the shorter term however that was given and met on the same day so that should not count as a valid projection met in the statistics of your software.

dr191103
dr191103

Why don’t you use $brti like you used to?

Hsiang76
Hsiang76

Actually we haven’t seen any statistics on any major indices lately. Only on IWM, but not NDX, SP500 or INDU. Another all time high in SP500 in the making as I post this comment…

Optimus
Optimus

Thank you. The projection on the DOW to over another 1K points from here may come true yet, it's the strongest of the main indices. Would you be able to revisit it as well?

Last updated

dciwinski973
dciwinski973

Why do I have the feeling we are going to be looking for a nonexistent top until October when the SP500 will be at 4800?

nimishtrading263
nimishtrading263

Many thanks for your excellent work, Peter. It helps keep my investing/trading in check! Just to add, in case anyone is interested, the DJIA index shows some brilliant log channels since the early 1920s and the various moves up have displayed some mighty fine channels within the much bigger channel since then. The latter indicates a potential top of around 180,000 by 2034. The we get the 90% move down to 18,000....know when that last happened, anyone?

nimishtrading263
nimishtrading263

One more point is that I can see DJIA getting to around 58,000 by end of next year based on the log channel created by the ATH and the crash low of last year. A lot of the Monthly candles since last year's low have been sitting on the mid-line of this channel which seem to act as support.

daniel039209
daniel039209

nimishtrading263 said:

Many thanks for your excellent work, Peter. It helps keep my investing/trading in check! Just to add, in case anyone is interested, the DJIA index shows some brilliant log channels since the early 1920s and the various moves up have displayed some mighty fine channels within the much bigger channel since then. The latter indicates a potential top of around 180,000 by 2034. The we get the 90% move down to 18,000....know when that last happened, anyone?

only 180,000?

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