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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (17809)3/2/2016 5:39:39 AM
From: John Pitera2 Recommendations

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mary-ally-smith
roguedolphin

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the Dow Transports have had a strong rally since early Feb



as has the RUT has climbed above it's 50 DMA.... on the strong rally yesterday ...This is coupled with the SPX, The NASD Comp and the NYA all vaulting above their 50 day MA yesterday....... to have 4 major indicies to all be giving the same bullish breakout signal on the same day is very rare to have them that closely coordianted and is absolutely bullish for them to all take out that resistance and close on their highs... above the intermediate term resistance. I suspect that we have not seen all 4 of those average climb from below their 50 DMA ; close above it and close on the high in the past 5 years.... although I have not researched that specific point.



GOLD has continued to perform well as it appears to be in a triangular consolidation and should make a higher high in price than the 1263 high when we consider the RSI momentum overbought on Feb 10th



The Weekly Gold Chart is also extremely bullish gold is start this morning again at the top of the WEEKLY Bollinger Band and the weekly RSI is showing more bullish momentum than at any time since the price high in Gold at $1923 in 2011



John
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