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Strategies & Market Trends : John Pitera's Market Laboratory

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Davy Crockett

roguedolphin

To: Davy Crockett who wrote (15984)	5/20/2014 4:53:08 PM
From: John Pitera	2 Recommendations Read Replies (1) of 33421

Hi Davy, I concur with you and Iso..... even in a bull market environment we should be looking for 3611-3630 ... the $RUT is definitely weak and is not bouncing. earnings have been disappointing for a number of companies and as Robert Shiller has pointed out the PE of the SPX has only been higher than it has been currently only 13% of the time in the past 30 years. And the Bubble of the late 1990's accounted for much of that time. with the Russell 2000, the biotechs and the internet stocks all showing significant underperformance. It may well be that we are entering back into a recession.. China has continued to slow and they are contracting their shadow banking system.... The EUR/USD has been so strong that European earnings are not going to be great with the EUR having been as strong as it's been. China is engaging in South China Sea expansion with them placing a large Off shore oil rig of the coast of Vietnam and have been looking to get territory back from the Philippines... Russia is gaining more ground in the Ukraine.... very interesting developments. John

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