John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: isopatch who wrote (17700)	1/21/2016 11:44:01 PM
From: John Pitera	3 Recommendations of 33421

With This kind of technical damage.. the bear market has been active we have to see contra deflation actions in both prices and Monetary Policies...... very Oversold Market........McClellan was commenting about a low in later January and we are in that window.... a corrective price rally into Late Feb.. possibly March and more downside into Oct. back in 2012 Art Art Cashin had spoken of the 16.7 year cycle that is also known by a number of market experts.. that would line up with a significant Oct Low from the March 10th 2000 top. The Russell has undergone lots of damage The weekly NASD has a gone through it's Lower Bollinger Band and the RSI Momentum has made a new low on the 10 Year weekly look at the 20 year monthly chart lower to see how we hit off of the lower BB already... The NYSE index weekly is also below it's 200 week MA and it is showing a weekly momentum divergence which is encouraging I really should have waited until the weekend to see how this week finishes up..... But this gives people an idea of what things look like before the weekend. The USD index the weight it is weighted is not showing the distress in the the Russian Ruble , The Chinese Yuan.... and several other currencies Copper is working its way lower grudgingly..... ABX the large Gold miner is talking about a 3 billion dollar impairment to the balance sheet tonight. . Brent Crude has renewed Momentum with a 22 RSI reading... The Dow Jones Industrial QUARTERLY chart from 1900..... even if 2008-2009 corresponds to the 1973-1974 Liquidation Bear Market that was discussed today on this thread by richardred who lived through it and was watching the carnage that it did.... should be able to hit it's lower BB around 10,000 prior to this overall situation being resolved. The Inflation adjusted DJIA ( not shown here) shows a much lower low as prices had gone up by 500% to 800 % from the 1964 until 1980-82 John

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