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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (18604)1/19/2017 9:46:28 AM
From: The Ox  Read Replies (1) of 33421
 
Your view was on target but the timing needed to be extended to Feb 16 (which is easy to do in hindsight):
The Financial Markets are setting us up for a significantly profound period of major instability between now and Sept 28th. 2015.
Like your view on Oil falling below $30, which was true but I know that at the time of $40 oil, few of us were contemplating $26/bbl. A break of $30 even seemed far fetched to most, even though the charts suggested it was a real possibility. The negativity was so bad that CWEI, which was taken out this week at $145ish a share, could have been purchased below $10/share for nearly a month.



A note about the first chart, the break of the trend is clear but the first move up is not always the main move.

I doubt we'll see any retrace to the bottom of the chart unless a really major unexpected event is on the intermediate horizon. I think it's important to look at the USD in conjunction with the Treasury Yield "for more color". Here's a chart you posted recently:



It appears that the economies of the world are starting to improve at a measurable rate. If this backdrop continues, then more rate hikes are going to be on their way.
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