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Strategies & Market Trends : John Pitera's Market Laboratory
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To: The Ox who wrote (18585)1/9/2017 9:16:55 PM
From: John Pitera4 Recommendations

Recommended By
3bar
ggersh
Hawkmoon
The Ox

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Hi Ox, Great chart, i find the market to be in a fascinating period currently with the global drift up in interest rates going into a short term remission.

Here is my 10 year SPX weekly RSI which is displaying a couple of notable points.

1. The Ultimate has consolidated and has relieved some of the overbought pressure

2. the RSI MA crossover system is still on a buy signal as the 9 period remains above the 45 EMA weekly.
that is bullish

3. My Proprietary Index which is comprised of the EUR/JPY: $WTIC which is the EUR/JPY crossrate then priced relative to the WTIC. is then used where I Iook at the 200 week Average True Range of the resulting calculation and then the shorter 14 week ATR. What My research shows me is that the SPX is in bull mode when the 14 week ATR is below the long trend 200 week ATR. the 14 week ATR is currently moving into even more bullish territory and that is bullish.

The EUR/JPY is the second most important crossrate in the world and WTIC is the single largest commoditiy traded and used in the world, that is actively priced on an exchange. By looking at the interaction of those markets while stripping out direct USD price bias is useful and not widely done.

The USD is still ultimately reflected in this system as WTIC is denominated in USD... but this Pitera EUR/JPY:WTIC ATR system lets us get info on the global flow of funds that has a good correlation with our domestic stock market.

John



John
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