John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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robert b furman

To: John Pitera who wrote (18599)

1/18/2017 12:52:32 AM

From: John Pitera

1 Recommendation of 33421

To: John P who wrote (104176)	1/16/2017 9:02:18 AM
From: Rarebird	Read Replies (1) of 104178

1) The S&P made a major 3 2/3 year low and 180 trading day low on 11/4/16. SPX is now in a large final 5th wave rally into an early 2018 major high of 2705 before a Great Depression II style crash unfolds. 2) Gold weekly has bounced off 1116.90 78% support. Gold is in a bear market unless it can solidly close above 1377 (7/16H) and 1448 major long term up channel. 3) On the weekly, Dollar is longer term bullish as long as it stays above its bull flag, with target 107.80. Key is to stay above 101. 4) The Euro has been in a large sideways bear flag since 1/15, with major channel support at 1.0385. It made fresh 12 year lows on 3/15 and most recently on 1/6/17. A close below 1.03 will lead to a retest of 80-82 in the coming months and years.

To: Rarebird who wrote (104177)1/18/2017 12:42:44 AMFrom: John P Respond to of 104178

HI Rarebird..Excellent Analysis.... I agree with points 2, 3 and 4 almost exactly...... and I agree with you on point 1 on what SPX action will be in 2017... what happens after 2017 is not completely clear to me, but I will tell you that I have listened and at times made the argument that we may ultimately see the SPX back down to the 666 level of March 2009.

these longer term speculations are prone to evolve as all of the components of the Global Capital Markets unfold over time.

Thanks so much for posting.

I have a USD chart posted here that should contain the downside and enable us to move up to that 107.80 area....

Message 30938565

John

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