Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 43.75

+4.6%

Nov 12 4:00 PM EST

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Augustus Gloop

To: GROUND ZERO™ who wrote (83079)	6/24/2013 7:30:53 PM
From: John Pitera	1 Recommendation Read Replies (2) of 206820

Hi GZ, It does not look like capitulation yet...... If you look at this chart of the SPX of the past 2 years this is decline has exceptional momentum.... We can have a rebound rally but statistically we should hit the 200 day MA and using the past 2 years as guidance.... even go below it... As you can see with my one walk forward analysis system.... We have not reached the lows in RSI , MACD etc that we have previously and so on a daily basis we have lower lows the model is in solid sell mode and has not reach the bottoming levels that have worked since the 666 low om 03/06/2009.... and the geopolitical environment is the worst the global mass mood is the worst... Corporate profits are going to take a beating... A recession for the coming 2 or 3 Quarters looks inevitable. John

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