SMC Update 2-27-23
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Excellent Peter! Love the idea of intraday updates when targets are given or canceled. I agree with your belief the next down leg should start over the next day or two. ~Dorothy
ESH Just took out yesterday’s Low on Inflation European News:
Spain 🇪🇸 Preliminary February CPI preliminary Harmonized 6.1 % Vs 5.7% Hotter🔥Than Expected
France 🇫🇷 February CPI Came in 7.2% 🔥 Vs anticipated 7% ~Dorothy
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Probably not today but 3-1 through 3-3 my guess is Yes. Katie Stockton sees 10 yr short term getting above 4% next resistance 4.34. Stocks won’t like that. It’s no longer a TINA market. ~Dorothy
The same profile that said 2-21 was going to be a big down day is showing sharp drop especially 3-1 & 3-3. Could see Globex whipsaw on 3-2 but look down into 3-7 then 2 day bounce into 3-9 and then down resumes. My guess Peter will get what he calls cascading downside targets. Look at weekly chart on ESH. My guess is we take out 3947.50 by Friday.
~Dorothy
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Check out DJIA Daily chart. It is close to breaking down below neckline of broadening Top. It wasn’t too long ago the DJIA was the strongest index.
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