SMC Update 1-5-23
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Comments (9)
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A (very) bad day for the perma-bears here.
S&P did a .382 retracements. It appears if you look at mirror image 🦋 S & P is possibly forming a right shoulder of H & S pattern.
Yes! However were the upside targets met? I don’t have the software so I can’t say. ~ Dorothy
Yes! However were the upside targets met? I don’t have the software so I can’t say. ~ Dorothy
it is was a spectacular rally like usual after a bearish Peter diatribe. Sorry
Go watch video again. Peter said he can’t say SPX won’t rally to 3900 ➡️ first. He said be careful no short term upside projections left on NDX. The last thing he discussed what was necessary to cancel downside projection. I had noticed Advance Decline numbers were improving. This is the time of year PMs are putting their portfolios together for new year 2023. They buy and hold. Bulls, this next week you’re likely on the hot seat as selling was seen into the close at .382 and a cycle low is expected January 17-20th.
Go watch video again. Peter said he can’t say SPX won’t rally to 3900 ➡️ first. He said be careful no short term upside projections left on NDX. The last thing he discussed what was necessary to cancel downside projection. I had noticed Advance Decline numbers were improving. This is the time of year PMs are putting their portfolios together for new year 2023. They buy and hold. Bulls, this next week you’re likely on the hot seat as selling was seen into the close at .382 and a cycle low is expected January 17-20th.
Edit button didn’t work should be No short term Downside projections on NDX
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