John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (18024)	3/22/2016 12:44:06 PM
From: John Pitera	2 Recommendations Recommended By 3bar Davy Crockett Read Replies (2) of 33421

20 year monthly equivolume charts on the RUT, the NASD COMP and the NYSE.. The RUT 20 year monthly has fallen below it's lower Bollinger Band for the first time since the 2000-2003 bear and the 2007-2009 bear. The NYSE has not been been below the lower BB since the 2 previous bear markets...... the question is ...is the damage finished and the bear market over.... or is this just a corrective rally. each of these charts has a bit of something for bulls and bears I suppose. The NASD composite has broken below the lower bb and has now come back to touch the 20 month MA or center line of the Bolllinger Band which acts as resistance . The Blue parallel trendline shows room for a further round of decline back towards NASD 3000 + The markets are absorbing the Brussels bombing pretty well today... the terrorist development is casting a negative shadow on Europe with it likely increasing a British vote to leave the EU when they vote on June 23rd... which will be bearish for the UK and for Europe. ft.com theguardian.com ibtimes.co.uk John

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