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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (17197)8/27/2015 12:39:23 AM
From: Hawkmoon2 Recommendations

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John Pitera
kimberley

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The magnitude of the decline means that there is a lot of resistance at previous (broken) levels of support on the SPX..

And I think, given that Evercore just stated that they believe China's GDP growth is now Minus 1%, that's going to mean more devaluation for the Yuan, and a higher US Dollar, which will put a crimp the profits of US internationals.

Personally, I think we're looking at serious correction territory.. Based upon the SPX quarterly, anytime we have two black candles, it leads to a retrace to the lower Quarterly Bollinger Band over the next year or so..

bigcharts.marketwatch.com

We'll have to see..

Hawk
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