John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Chip McVickar who wrote (17935)	3/16/2016 12:09:06 PM
From: robert b furman	Read Replies (1) of 33421

Hi Chip, Looking at vix - I can see a five wave up followed by a 3 wave corrective - one that is getting long in the tooth: stockcharts.com I'm not getting much out of clx other than it is staying nicely above zero and that IS when market run up happen. Macd is getting up there and about to roll over if past action dictates: stockcharts.com Plenty of room for a correction that allows resets to ocurr. The usual run up into option expiration seems dull - today may boost that - I'm not much of a fed follower but I think talk of rate hike is just that. Car sales are doing excellent and GM simply can not build them fast enough - my lots are very empty. Construction is going on every where in Houston and for the first time in a long time Wisconsin is building new homes. We have a friend trying to finish off her basement and can not find skilled trades - they're too busy. This economy seems to be rocking - ut all you hear about is income inequality - well if you are happy with the social safety net you will fall behind those willing to work and or have a skilled trade. I guess politics allows evrey one to have a negative view whether it is correct or not. I'm thinking our economy is doing far better than what we are hearing. If so we should have a very good market. It will most likely take earnings which are 3 weeks off at least. There does seem to be enough time for a reset. Bob

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