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Strategies & Market Trends : John Pitera's Market Laboratory
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John Pitera
To: John Pitera who wrote (17809)3/2/2016 10:27:10 AM
From: The Ox1 Recommendation   of 33421
 
I haven't been overly worried about the political process at this time. I will say that the analogies to the "clown car" group the Republican constituents have put forward have had me in stitches. It's one of the reasons why I haven't paid that much attention. Until the field gets whittled down to 3 or 4, I was just waiting. We're getting there. The Dems are more of a foregone conclusion, so no need to spend much time there either.

With respect to the markets, I think we've seen some very troubling sentiment numbers but other than that, it's been interesting to watch the move off the recent test of the lows. So many stocks are washed out (or were 2 weeks ago). Many with strong justifications but there are nearly as many babies in the bathwater, so to speak.

I posted yesterday on another thread the Glencore CEO stating he thought commodities were making a bottom or have already made it. While he could be "talking his trading book", I believe it's worth taking note of the statement.

A few weeks ago I stated on another thread that the market wouldn't be going anywhere without the transports and your chart shows solid movement in that area as well.

Money is still moving into the markets as taxes get completed, with 401K money and the like still moving into accounts. Intermediate view is rebounding within the down trend and just now braking above the middle of the channel:

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