John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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Hawkmoon

The Ox

To: John Pitera who wrote (18224)	5/28/2016 2:21:19 PM
From: John Pitera	2 Recommendations of 33421

the sentiment numbers seem to be truly ringing a bell that we have a pronounced significant leg higher coming in the market. It's been quite a long time since I have seen such restrained/ low bullish sentiment reading as well as widespread caution. It has to be attributable to this long sideways pattern in the stock averages, coupled with the price corrections we saw in August - Oct of 2015 and then the additional decline we witnessed in January and the first half of February 2016. The RUT had a very significant correction / bear market but the technical action appears to have improved considerably The 10 year NYA chart had a break down of it's own however it is back in it's uptrend channel and has rallied above it's 200 day MA several weeks ago and appears as if the NYA Average should well be ready for a bullish breadth thrust and a break out to higher prices as well. and when we look at the the 10 Year NYA chart with the Moving Average ribbons notice how the price has moved back above them all *AND HOW Tightly coiled they are..*.... this suggests a large percentage move on the near horizon. JP

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