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Strategies & Market Trends : John Pitera's Market Laboratory

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roguedolphin

The Ox

To: robert b furman who wrote (17606)	1/12/2016 9:50:09 AM
From: John Pitera	3 Recommendations Read Replies (1) of 33421

NASD Rallied as it hit it's 8 Year weekly Bollinger band ... with the NASD and the SPX reaching that zone It was an area where some Macro managers are going to buy some stock. So much talk about much lower crude number With Morgan Stanley coming out with a 20 number, Goldman put out a number in the 20's....... Dennis Gartman talking about a flush to $18 and Standard charter talking about $10 for Crude this morning.... some of the Smart large Shorts in crude will come in here and cover for a descent rally attempt in Crude. and so stocks work to rally lets see how they do. SPX came within 2 points of The Weekly lower B Band and rallied the RUT is technically weaker in several respects one of which it going below it's lower Bollinger Band on the 8 year weekly chart...... IBB has had 3 lows at 285 ....... so it bounced off of that level however the way it slices through it's Lower B Band and the fact that it was so super over done at it 4 plus standard deviation above it's 200 Day MA last July 21st means that the IBB bear is not over yet. Message 30157794 JP

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