SMC Update 10-27-22

hey Peter thanks for great info

Thanks Peter. I look forward to these updates every night. Seems like we're turning over into the loop set up for more downside. The S&P 24.2D is another glimmer of hope for bulls.

I was not an investor in 2000. Did the DOW and NDX exhibit similar behavior back then?

spencerdavis2000 said:

hey Peter thanks for great info

Spencer, I'm not sure if you saw my comment yesterday. Thanks for the commentary. When we break the lows what kind of plays are looking at to capitalize on the crash? Also, what is your downside projection for the spy on the 3rd wave?

Peter, thanks for all the awesome information. Very interesting on GLD. A week ago, I was doing some technical analysis on XAUUSD and I saw that we would have a small rally and then we possibly would go down to around the 1440 area. I really couldn't believe it, so seeing your analysis kind of confirmed my analysis. We shall see what the future holds :) Keep up the great work!!

Statistically, we are entering the most bullish 5 day span of the year, going back to 1950. Something to be aware of.

Thank you Peter, have a great weekend

Peter, thanks for the information. Please do not feel too much stress. Time will tell the value of your cycle analysis projection.

Gold left behind the 200d EMA back in Aug'22 and has been hovering below its 50d-EMA for a while now. Gold is clearly bearish unless it proves otherwise, which is unlikely in the near to medium term. The lower targets are to be expected. A friendly suggestion, in my opinion, it might be a good idea to alternatively look at GC1 or MGC1 Gold Futures rather than GLD ETF.

Peter, I believe and trust your calls, but nothing is 100%. These videos are immensely helpful and I hope they continue every day! Thank you

Peter, I believe and trust your calls, but nothing is 100%. These videos are immensely helpful and I hope they continue every day! Thank you

Thank you for giving your time everyday Peter . Don't stress your self .. Relax Refresh Recharge . have great weekend !!

Doesn't the DOW lead the NDX and SPX? I am wondering if the dollar topping is creating this as well. When the dollar falls the market rises. Lots of stress for sure. Getting crushed on NVDA shorts.

Last updated 4 years ago

NDX has a confirmed projection up to 12.6 k, SPX over 4,1 k. It is time to ride the way long gentlemen.

flippendales3072 said:

NDX has a confirmed projection up to 12.6 k, SPX over 4,1 k. It is time to ride the way long gentlemen.

Yep, another bad day for the bears.

Thank you Peter, Appreciate all you do, truly! It's not easy, but it's incredibly useful, especially in this market. Speaking of which, this feels EXTREMELY overbought with today's action, can we talk you into a special update?

brian1469 said:

Saw this coming a couple days ago they are propping it up for November election

I have been purchasing a lot of long term puts on individual names this morning.

Only the market could give us the largest percentage move in the Dow's history since Brickman's crash call. Also the YM is looking to close outside it's upper bollinger band for 5 of 6 days unbelievable

For people talking about NVDA their is a gap up to the 149-150 area that needs to be filled

Isn't it crazy? And Apple stock with one of the biggest gains in a day I've seen. What could this mean hmm

If the NDX surpasses 12 k we get even higher projections for the 24.2 / 27.6 offset?

bbrentpb465 said:

there are much higher higher projections and even preliminary. looks like no down turn dam. i guess we are on our own

don't say it like it's so bad, if we have reliable projections to the up side then we can still make some money

I respect Peter as an analyst but hopefully he can follow his own software more closely and not look at the market w/ a bearish bias, going forward. Also, won't the downside 48.4/55.3 projections be invalidated with a move up to 4200 on the SPY? It sure looks that way to me from the Web App.

Last updated 4 years ago