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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (15777)4/9/2014 9:29:07 AM
From: Hawkmoon  Read Replies (1) of 33421
 
The Quarterly SPX is 44% above it's 200 period MA, much as we were in March of 2000.
Yeah.. it does bear a scary correlation with 2000.. We may trend higher for another retest of the highs, but I'm more inclined to think there is just TOO MUCH "event risk" going on here (Ukraine.. etc, as you aptly pointed out)..

Who knows? Maybe Putin's people are looking at the same charts we are and see how vulnerable the markets are.. Maybe they are all shorting the US markets?.. ;) Right now though, it appears to be a foregone conclusion that Putin will invade E. Ukraine, if only to open up the supply corridors to Crimea. To supply that peninsula as it stands right now, is a major financial undertaking... So he's going to invade and it will be interesting to see how the West reacts.

It's possible we might just retrace the S&P back to the 1500-1600 level, to retest support at the previous market tops. But that is STILL a pretty serious pull-back (300 points) from current levels.

Btw, I heard about the blood moon sequence we're expecting to unfold, but I'm not a superstitious trader. However, I recognize that many OTHER traders are highly such, so I have to pay attention to that.

Hawk
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