SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : John Pitera's Market Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Chip McVickar who wrote (17950)3/18/2016 8:10:21 AM
From: John Pitera3 Recommendations

Recommended By
3bar
Blasher
The Ox

  Read Replies (3) of 33421
 
Hi Chip, a note was sent to me this morning regarding the $USD index getting oversold on the RSI

$usd approaching oversold RSI. SPX correlating highly with $WTIC. $WTIC negatively correlated with $USD. Therefore, when $USD reverses, then $WTIC and $SPX likely to reverse!! See 1009 Currencies and $USD daily.



my own thoughts are: The USD is trending down I see it's approaching 30 on RSI but USD might go to 93.15 or 92,50,,,I don't know....there is no momentum divergence and so I myself would not catch falling knife .....


Your second chart shows the great correlations...


right now not in hurry to call equity top in spx or djia


in equities the biggest negative is RUT under performance and look at RUT 10 year weekly chart.... we are below the multiyear uptrend and still following along the Downtrend in green on this chart


this RUT chart is the KEY --- Market has got to get the RUT above it's weekly descending trendline and back in it's uptrend............ otherwise is this just a bear market rally




one more USD index chart



the daily IBB and weekly IBB can barely get itself up off the floor



And the 10 year weekly EEM the Emerging Market Index has to create some additional positive price action.



John
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News