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Strategies & Market Trends : John Pitera's Market Laboratory

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To: isopatch who wrote (17317)	11/3/2015 7:01:30 PM
From: John Pitera	4 Recommendations Read Replies (1) of 33421

Hi Iso, look at this 10 week RRG, chart we ran today and it illustrates how the Narrower The Index the bigger the rally. The QQQ and S&P 100 ( the old OEX) have the strongest rallies and as the indices become broader and equal weighted... the rebound and rally becomes weaker and weaker. The Russell 2000, the cumulative A/D lines on averages New Highs vs new lows and other similar metrics have been showing a thinning market all year.... Super Bull laszlo birinyi... went on CNBC yesterday and said he was the most caution that he has been in years... he has had targets of SPX 2150 for 2015 and SPX 2300 for next year ..... however he cautioned on how earnings have been achieved through financial engineering in too many areas to provide him real comfort. . . Message 26607841 and I have another post that I want to repost later tonight regading I think I will highlight what I feel are the really key passages in both of the posts. and notice how bullish I am back in 2013 due to US energy renaissance and the low relative costs for US companies.. Message 28777295 John

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