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Strategies & Market Trends : John Pitera's Market Laboratory
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To: The Ox who wrote (18638)1/26/2017 1:07:29 AM
From: John Pitera1 Recommendation

Recommended By
robert b furman

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HI Ox, the biggest take away from this currency stability is that it is all systems go for the stock market to rock and roll and push higher and higher...... because right now we do have stability.

The Eur is moving sideway it can not get over 1.08 and is not going below 1.07.. that is fine

t

The British pound has been on a tear the past week. and the meeting with the New British PM will be very positive for the US stock market the UK equities and the pound.

the Mexican Peso has been rallying very strongly since 1/19 and took off and went straight up when Trump was sworn in on Friday.



The EUR is just waffling along sideways..... gold and silver have been selling off and the animal spirits are in town.....as Robert Furman said on H1's thread..... eat the red meat of this US equity market banquet.



the fact that the currencies are so calm is one of the ways that gives me much much greater confidence in the stock market rally.

look at the daily dollar index no po problems at all... even if the index goes to the .382 at 99.39 or the previous Wyckoff Box low of 98.52 basis the cash.... not a problem... especially if it gets people bearish on the USD.



and a lower USD helps US multinational earning for not just this Q but Q 2 of 1017.... better earnings justify higher Price multiples.

John
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