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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (18598)

1/17/2017 11:32:01 PM

From: John Pitera

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To: robert b furman who wrote (25169)	1/17/2017 11:24:07 PM
From: John P	of 25170

HI Bob, Marty Zweig and I am sure gave us the saying "Don't fight the Fed".... we may learn, that at least in the short term "Don't fight Trump" might come into vogue... who knows... I know that Trump has had some terse words for the FED as well. the WSJ has an excellent article today in their R section on the Central Banks putting down their Bazookas 's, in terms of the global experiment with Negative interest rates. I'll see if I can post that. Teddy Roosevelt had his bully pulpit and his Maxim " Talk softly and carry a big stick" President elect Trump has his Twitter feed, does not appear to need much sleep and really likes to get his opinions in The 3 year Wyckoff chart we have been working with for a while shows how the USD which was gettting support at it's 100.71 level heading into the holiday weekend has come back a bit below the area of what should be a multimonth break out.... today closing at 100.32 This should still represent an excellent buying opportunity to go long the USD..... However, I do think it is very wise to watch closely everything that happens this week.... We have the Global World Order meeting in Davos this week... and we have both Global leaders.... China's and Trump speaking today and eyeing each other with steely resolve....... this is better than a movie and real life is proving more interesting than fiction. I still have the note on this chart about the false breakdown in the $USD from May 5th of 2016..... right now I would venture that this small breach and close 30 basis points or so below the 100.60-71 area will not send us back into the trading range and we can still head higher in the $USD,,, but we really need to see what happens in "RealPolitik" and not in the land of theory....... Message 30577735 my post from May 11th regarding the break below the USD 92.52 support JP

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