John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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roguedolphin

stuffbug

To: stuffbug who wrote (16332)	12/13/2014 12:24:10 AM
From: Davy Crockett	2 Recommendations Read Replies (2) of 33421

SPY weekly (gulp)! Nasty candle! Next week (and the next few weeks) will determine make or break time. SPY sitting on some support here. Methinks early next week we have shorts covering & then more down to at least 1980ish or so and a lot more down from there... when that fails. BWTHDIK Just remember December is in terms of seasonal analysis (the best month of the year) which a lot of TA technicians depend on (not me) and hang their hat on. The failure of December to confirm or to go to new highs should be of real concern to anybody who has even a latent view of the market. The fact that December (so far) is so weak should be of real concern to anybody who follows the market. As they say, if this bleeds into January that will set the tone for next year. So be Short, or be in cash. Don't buy GOLD and don't be fooled. Wait until the market tells you... OIL will continue to go down, commodities with it. GOLD will be okay in the long run... In other words, the Santa rally should be real, should be happening and the fact it is not is (for me) a real level of concern. So I'm short the markets & will continue to be... I don't think Santa is going to come this year :( to the masses. Me? I'll take whatever I can get. I'm that greedy (sorry I'm not supposed to say that right?)

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