SMC Update Week Ending 1-20-23 Recorded 1-22-23

thanks Peter. I thought the historical thing in the beginning was very fascinating.

Hi Peter, are we up from here on TSLA?

At the 25:35 mark, you offered that "short term downside met and expect rally''. But from the 3590 level in SPX since October we have rarely looked for rally but failure and lower lows. And if SPX stays flat( and it wont) for next 2-3-4 days, it looks like it would be above the continuum. Can you speak of that? Also, Im not sure why you use as some type of template of the 2000 bubble( all time highs in valuations) and the 2008 GFC( largest credit/housing/banking crisis ever) as "similar". The SPX corrected 20%,NDX-30%.INDU-? 9.5%?. Not really the same in my opinion. Everyone is expecting crash in 1st 1/2 2023. Stocks are already up 20-40-60% since October. I would expect higher prices. Until your upper projections come into play

The whole bear market case is mainly based on the NDX projections and that it usually leads the market. Mind you Nvidia is leading the NDX and has already broken out of the bear market trendline a few weeks ago.

brian1469 said:

max.ship3821 said:

The whole bear market case is mainly based on the NDX projections and that it usually leads the market. Mind you Nvidia is leading the NDX and has already broken out of the bear market trendline a few weeks ago.

Agree with you on NVDA. From the projections that Peter did it looks like it bottomed for now. NVDA is also breaking through its yearly VWAP today. TSLA has also hit lower projections I believe. The long term NDX is still in play but I believe you can put it on the back burner for now.

I could see the Dow form a double top at all time highs and us hit all the upper projections on the other indices. Would like to see the ES get above its yearly VWAP at 4049

Good point Brian. I could actually see the DJI make a slightly higher high. The SPX to go up to 4.400-4.500 (look at the confirmed projection). The NDX can go up to over 14 k without invalidating the downside projection.

If that goes on, in combination with some bullish news that will be provided, almost nobody will bearish anymore. Most bears will be wiped out by then. I would urge everyone to keep an open mind and look at the projections. Especially what Nvidia and AMD are doing. Listing to the zealous berish bias cost me dearly in October.

Looks like all downside will be invalidated with a close above 4020 on the SPX, correct??

jshemanski49196 said:

Looks like all downside will be invalidated with a close above 4020 on the SPX, correct??

we are back below 4020 SPX , so, is it bearish still?

Thank you peter . Can you please Look at tsla . thank you.