SMC Update 10-20-22

thanks for the update Peter. Paying careful attention to if we sell off tomorrow if closing numbers on SPX are less than 3577 and NDX less than 10781. Tomorrow is the "Black Monday" dark day on the lunar calendar. Oct 25 Tuesday is the solar eclipse and we are in a full moon right before a solar eclipse. This is according to Lars and Aaron Brickman. So it will be interesting to what effects these events if any have on the markets.

spencerdavis2000 said:

thanks for the update Peter. Paying careful attention to if we sell off tomorrow if closing numbers on SPX are less than 3577 and NDX less than 10781. Tomorrow is the "Black Monday" dark day on the lunar calendar. Oct 25 Tuesday is the solar eclipse and we are in a full moon right before a solar eclipse. This is according to Lars and Aaron Brickman. So it will be interesting to what effects these events if any have on the markets.

Spencer, just to clarify this. The last full moon passed on October 9th and the next one hits on Nov 8th, which is also a lunar eclipse. Astrologer Steve Puetz has done some research on crashes occurring after a full moon/lunar eclipse that is also within 6 weeks of a solar eclipse (which occurs on 10/25 as you note) and found it statistically compelling. You can research this online, as this configuration was in place for the 1987 crash. Peter has also talked about this previously. That said, this indicator does not always work, either.

Last updated 4 years ago

I am increasingly convinced that there's not likely to be any new significant lows in near future. This market will eventually create new lows and in my opinion that's very likely in 2023 and not this year. The reason I say this is as below.

Firstly, like Robert Prechter has proved time and again, news and events don't drive the markets as many claim to. That said, market needs a trigger and news and events serve that purpose. Given all the doom and gloom already starting from CEOs and analysts, the markets have already factored in all known factors. As I said earlier in a previous comment, panic is a key element absent in this market and without panic, much lower levels is not possible.

Purportedly, the head of US Navy is speculating (obviously based on intelligence it has gathered) that China may invade Taiwan in 2023 and a war like that causing deep polarisation between US and China (and Russia and rest of the world taking their sides with one or the other) could be one trigger enough to drive the markets down in 2023. The next round of major correction will accompany that.

Last and not the least, it is proven beyond doubt that all world indexes act in concert and there's hardly any exception. The Elliott wave counts are crystal clear in the Indian market indexes (NIFTY and BANK NIFTY) and according to me those are going through a protracted wave 4 correction. The NIFTY index is going through a wave 5 of higher degree, which commenced after Mar'20 bottom. The bull wave rising from Mar'20 had completed wave 3 and going through a protracted wave 4. (The wave 4 triangle in yet another index known as NIFTY NEXT 50 is an added confirmation that markets are going through one last terminal bull wave.) So, one last wave 5 of a lesser degree is remaining there, which will likely complete sometime in early 2023.

Only time will tell decisively, but I am more or less inclined to believe in those lines.

Last updated 4 years ago

spencerdavis2000 said:

thanks for the update Peter. Paying careful attention to if we sell off tomorrow if closing numbers on SPX are less than 3577 and NDX less than 10781. Tomorrow is the "Black Monday" dark day on the lunar calendar. Oct 25 Tuesday is the solar eclipse and we are in a full moon right before a solar eclipse. This is according to Lars and Aaron Brickman. So it will be interesting to what effects these events if any have on the markets.

I would take all these predictions with not a pinch but an armful of salt. No disrespect meant, but I seriously don't believe mankind has grown in intelligence to predict exact day or week of crash. Aaron Brickman obviously has done lot of work, but he only said that a crash could occur but doesn't decisively say it would occur. Many of these attempts are driven by an inherent desire so they can claim later that they said it before. No one gets it right. I am aware there's still one trading day left to prove him right or wrong, but I doubt that anything so drastic could happen in a single day.

Larry Williams has mentioned the mid term cyclic behavior. Any opinion on that? https://youtu.be/B0t7aSStCEg

@brian1469 what do you think is happening on monday because im surprised by the green friday.

brian1469 said:

We really need to close at or below 3673 on the SPX. If you look at a weekly chart this will be the 4th week in a row we close below the June low on the weekly's. If you look at it with a candle stick chart 3 straight weeks of long wicks on the top which I would interpret as selling.

I think we start to fall further next week if this happens. It shows me the Bears are still in control even after all the squeezes thrown at them

what do you think is happening on monday because im surprised by the green friday.

brian1469 said:

seamus.ssoh3308 said:

brian1469 said:

We really need to close at or below 3673 on the SPX. If you look at a weekly chart this will be the 4th week in a row we close below the June low on the weekly's. If you look at it with a candle stick chart 3 straight weeks of long wicks on the top which I would interpret as selling.

I think we start to fall further next week if this happens. It shows me the Bears are still in control even after all the squeezes thrown at them

what do you think is happening on monday because im surprised by the green friday.

I just think if we break above the June weekly low on the weekly's today we get a sustained rally next week.

The FED got as close as they can to a pivot so we could see a counter rally again her for a week and get to those 7/8 projections

I will add the NDX is still below it Junes low if we close here at 1:15 CST

Okay thank you

brian1469 said:

seamus.ssoh3308 said:

brian1469 said:

We really need to close at or below 3673 on the SPX. If you look at a weekly chart this will be the 4th week in a row we close below the June low on the weekly's. If you look at it with a candle stick chart 3 straight weeks of long wicks on the top which I would interpret as selling.

I think we start to fall further next week if this happens. It shows me the Bears are still in control even after all the squeezes thrown at them

what do you think is happening on monday because im surprised by the green friday.

I just think if we break above the June weekly low on the weekly's today we get a sustained rally next week.

The FED got as close as they can to a pivot so we could see a counter rally again her for a week and get to those 7/8 projections

I will add the NDX is still below it Junes low if we close here at 1:15 CST

Okay thank you

bbrentpb465 said:

it has been interestign to watch the turn of events; from almost a generational set up now back to upside projections. just goes to show that markets will do what they will do. Now the higher projetions the markets will start turning down. They like to throw everyone off

Too true!

bbrentpb465 said:

it has been interestign to watch the turn of events; from almost a generational set up now back to upside projections. just goes to show that markets will do what they will do. Now the higher projetions the markets will start turning down. They like to throw everyone off

Too true!