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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Don Green who wrote (20167)	10/20/2017 5:00:24 PM
From: John Pitera	Read Replies (1) of 33421

Hi Don, Their are several of us that feel that the EUR is making a rounding top.... and that the USD index is back in bull mode since it's low at 90.99 on Sept 8th. Sept 8th was the key turning point for the US 10 year note as it bottomed in yield / topped in price at 2.00 which it briefly touched in overseas trading... the TYX... the 30 year bond yield also bottomed on Sept 8th . The 10 year not yield exploded upward in yield and had a gap up in yield from the 8th to Sept 9th and the 10th. The EUR topped on Sept 8th the Friday of the "nuclear Hurricane" that at 3 pm Friday looked like it would take dead aim at Miami and then devastate Florida to a much larger extent than it did. the 10 year note yield bottomed on Sept 8th over seas just a smidge below 2.00 in overnight trading. these markets that are back in sync with interest rate differentials between the major global currencies coming back in the play has been proof that the Normalization of interest rates has been occurring and this plus all of the constructive developments on the Budget, and the pick of a new FED head are all being viewed as positive and bullish for the US and global stock markets. the animal spirits are on the loose the SPX close today ahs the highest peak since the March 1st close. Notice that the SPX is not above it's upward Bollinger band this time as it was in the first week of Oct. and the Chaikin Money flow has lowered a little. The NDX nadaq 100 has under-performed a little recently. Bitcoin broke above $6000 on heavy volume and so the bullish and speculative animal spirits are alive fortune.com the market that people are not focusing on is the US 10 year note .... a spirited move that goes above 2.40% will then make traders being to wonder if the the TNX is in fact on it's way to retest it's Dec 6th 2016 high of 2.62 %. When that level is penetrated to the upside it will start to re calibrate equity P/E ratio's as bond yields will offer a more competitive return. John

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