John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (12341)	4/21/2009 10:01:22 AM
From: Stoctrash	Read Replies (3) of 33421

<<Now we get to see if this is a 4 to 9 market day decline in the SPX to the 780-760 level.... or the proverbial more pronounced retest of the lows of early March. The Foreign High Frequency Equity Markets (China... etc. emerging markets) have come back so strong that they are indicating that we catch traction at the 780-760 level as in some respects we have a surfeit of certain types of global liquidity. I think you have a good map there. I need to see a sub 820 close fist as the trend is still holding up for now. I suspect we do see a move much lower but price for now is holding. The problem I see 3-9m forward is now that liquidity is there, nobody is willing to "RISK IT" or use it. The consumer is scared - layoffs & continued slowing biz is going to be the next problem. On oil..are we going to see the contango blow up that I talked about? IE..everyone betting on higher future prices that never materializes? So far that seems to be the case.

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