Technical. Analysis A to Z chaired by John Jacob Pitera Message Board

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Strategies & Market Trends : Technical. Analysis A to Z chaired by John Jacob Pitera

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To: richardred who wrote (9)	6/13/2013 4:18:41 AM
From: John Pitera	Read Replies (1) of 20

Today is the day the fear comes into the US Equity makets.... we touched the 50 Day MA and all the late sheep money bought because so many of the novices on cnbc told them it was safe to buy... then the professionals sold more longs and put on many many more shorts as the SPX rebounded to the 21 dma and with Japan crashing 6+% and China peeling off 5 % and we have been hearing about the slow down in China for 5 months... today is the day that the SPX crashes through the 50 day MA and we head back to the 200 day MA John and as you can see where is the 200 day May... way back at 1498.... call it 1500 to 1505 by the time we get there..... there is obviously support at 1536..... which should provide a short term profit taking area... but I really am pretty sure that the top for the year is in.. John Jacob Pitera...

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