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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Chip McVickar who wrote (17979)3/18/2016 12:49:55 PM
From: John Pitera4 Recommendations   of 33421
 
Hi Chip Really Great work..the currencies including the dollar index may have done enough work and had enough price action that we could be looking for a turn by that next eclipse date on March 23rd.

Rich Ross's technical comments on cnbc 2 days ago which I posted a dead link to on here.... He was suggesting the market would continue to rally from 33 to 39 days ... it was day 29 at the time... we are seeing resistance in the same general area.

I am more bullish on the precious metals especially silver which was the buy of a lifetime imo when using the 45 year chart and writing it up at $4.07 last Nov 29th

I think gold and silver are acting like currencies, collectable coins will most likely not be confiscated and represent an outstanding investment store of value as well as appreciation potential..... also constructive on precious metal ingots, bars and other related items.

Message 30336347


Long Term Silver Chart look very bullish.... on a 45 year Monthly basis we have watched Silver come back to it's .764 retracement, which also coincides with the very powerful 200 Month Moving Average... and we even have a Wyckoff Automatic Rally to the 14.93 area after the complete collapse to the $4.78 level back in the early 1980's....... This is the area where we will almost inevitably see the big long term money masters slowly accumulate........ As a trade to make money....... it's beyond the patience level of well over 90% of the trading public ..

But it's a very impressive long term set up....... and on a Macro positioning basis..... it appears to be a home run...given ...lots and lots of time to unfold. Historically Silver has often been the first precious metal to bottom.



thanks for posting you have the most excellent insights and fantastic time turning point tools.
UT Oil is being sold outside of the dollars value in increasing quantities and also pegged to the Euro, etc
Therefore don't you think... these traditional correlations are becoming more difficult and less reliable...?
But I suspect you're watching these developments already.
My take is that with all of this algorithmic trading we are seeing relationships and correlations wax and wan , disappear and emerge with increasing rapidity as the machine learning and human nature is accelerating the emotion extremes in the markets more quickly than ever.

John
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