SMC Special Update 11-02-23 9-30 pm Pacific

This is how it should be. Once you go off track, major crash cascading to 4k on Nasdaq. Plot is lost. Market god will prove you wrong. Remind what happened in Oct 2022?

Show Globex first

A) /NQ 7-8 15,200 TO 15.400 CONFIRMED HIGHER THEN ... IF THAT GETS THAT WHAT HAPPENS TO ..........

B) / NQ 12.1

YUP

C) 24 ALREADY HAS HIGHER

BEARS GETTING SMOKED

SMOKED BEAR SOUNDS YUMMY WITH CHEESE

after this 5% gain, i look forward to ONLY another 1.5% gain to get really short. But , what exactly is going to make market decline back down now 5%( was only 3% gain 2 days ago)? Nvda didnt break down , Tsla didnt break down. Russel already has had a bear market. Hard to see what Peter sees for " down , more down, and more down" makes little sense. Small turn date Nov 13th. Good luck all

brian1469 said:

daniel039209 said:

after this 5% gain, i look forward to ONLY another 1.5% gain to get really short. But , what exactly is going to make market decline back down now 5%( was only 3% gain 2 days ago)? Nvda didnt break down , Tsla didnt break down. Russel already has had a bear market. Hard to see what Peter sees for " down , more down, and more down" makes little sense. Small turn date Nov 13th. Good luck all

If you look at the weekly projections on the ES we will still have no upper projections after this week. I think the weekly's are worth looking at if you are looking for a rally for the rest of the year. For the projections to lean that way we need another week up next week.

We have lower projections on the 20 weekly down to 4071-3935 so that still favors the downside

I believe the whole point of the projections is to take the reasoning out of it.

Well, if the projections can be "objective" then there is a disconnect in what is presented 75% of the time from Peter. I really think if you can have an open mind,plus the awareness that the market does go up 72% of the time, it can be helpful. The RUT is a perfect example- it has had a bear mkt, one shouldnt be MORE bearish after a bear market, it sews the seeds for new rally/bull. Russell, is up like 8% this week. If anything, you should be long IWM short COMPX type positioning. From here to end of year or whatever, the best one can hope for is filling some of these last 4, 5 day gaps. Problem is with SMC, Peter is for some reason, just biased bearish. So, i try to let there be more room- i still got ripped shorting way above his initial resistance levels. and we seem to stll be going up! Jack said it the other day " DONT GO BACK TO BAD HABITS" that was 5-6% lower, Peter pushed back. Been same story for 12 /13 months. Yeah, we dropped in March and July, okay great, 73% of time UP 15% down , rest in trend

brian1469 said:

If you look at the weekly projections on the ES we will still have no upper projections after this week. I think the weekly's are worth looking at if you are er a bear market, it sews the seeds for new rally/bull. Russell, is

There is a reason to be long here we have multiple projections up to the 4420 area on the ES. Those are all short term and on the 7/8 daily. We should also get the 24 daily today which should be slightly higher.

But pass those we don't have anything else. So the reason to be long is there into that area.

But then that is the top!?! from 4410 back down to 3900,3700 so, might as well stay short as we are 4385. :/

brian1469 said:

daniel039209 said:

after this 5% gain, i look forward to ONLY another 1.5% gain to get really short. But , what exactly is going to make market decline back down now 5%( was only 3% gain 2 days ago)? Nvda didnt break down , Tsla didnt break down. Russel already has had a bear market. Hard to see what Peter sees for " down , more down, and more down" makes little sense. Small turn date Nov 13th. Good luck all

If you look at the weekly projections on the ES we will still have no upper projections after this week. I think the weekly's are worth looking at if you are looking for a rally for the rest of the year. For the projections to lean that way we need another week up next week.

We have lower projections on the 20 weekly down to 4071-3935 so that still favors the downside

I believe the whole point of the projections is to take the reasoning out of it.

ummmmmmmmm

NAH NAH NAH

GO TO MONTHLY

THEN CHOOSE 30, 60 ON EACH TIME FRAME

YOU NEED TO CHECK ALL DUE DILIGENCE

)

brian1469 said:

Peter we are getting the 24 daily on the ES most likely today so we will have a higher projection. But looking at the webchart it can easily be invalidated next week by just going sideways.

I'm looking at hitting the 7/8 at 4375 and that is were the midpoint is close on multiple short term projections for a top for today and then reverse from there. I think if you are a bear that is what you.

I'm thinking about putting an es short there. Went ahead and started a short at 4364

Nice we got 4375 I think this is a good spot to short

The mid point is at 4382 on the 65 minute but the midpoint for 27 nd 30 are 4372 and 4374

Nice we got to 4382 and I think that is it we sell off the rest of the day

Also went short RTY for a daytrade that is one of the dumbest moves I have ever seen

WHAT DO THEY SAY ABOUT PICKING MARKET TOPS?

That's right ...

Fools game.

HIGHER !!!!

"best week for stocks of 2023" 8% move for Russell. That is about the yearly average gain for stocks over time. If you werent long this week, you have to question why. I was until yesterday, still had losses from shorting into projected resistance levels that were overrun like a dam made of popsicle sticks. usually, when close at high of week, there is 100% chance of higher prices into next week. we will see if there is any sell off from the higher levels. good weekend

So I guess we will see the graph of NDX/DIA 45% and that will TRUMP the largest green week since the current bull market began in October 2022, and the biggest green week since November 2020

YES we are in a bull

Notice how Peter doesn't say Bear 🐻 Market anymore ...