SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : John Pitera's Market Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John Pitera who wrote (18682)1/31/2017 3:23:17 PM
From: The Ox1 Recommendation

Recommended By
John Pitera

  Read Replies (2) of 33421
 
We seem to be in a confluence of various "winds" that are all pushing and pulling at the market. A lot of reasons to think the economic environment will continue to show improvements at a better pace then they have this past year. Tax potentials, repatriation, etc, all point to added improvements. Then we get trade wars, border taxes and "weak dollar" talk of the administration....seeming to be talking out of both sides of their collective mouths.

I would guess that the market will soon tire with trying to micromanage everything that's coming out of the WH/Trump at the moment. Tweet Rallies (or drops) may be fun to the day traders and HFT pinging up down from obvious support/resistance levels but they have to be tiresome to long term investors looking for an entry/exit.

2 solid months of sideways chop with an upward bias in the SPY.... Not sure about a correction at this stage? While I think the market would be better off with one right here and now, what I think doesn't matter one bit.

I've been fortunate the past few trading days to be able to watch the tape but I guess I don't see much "out of the norm". Buy the dip is coming in right where you'd expect it with respect to SPY. I have not watched closely in the commodities area or the currencies and they may be forecasting more than what I'm seeing. Unless there's a cascade in the selling with SPY on a much larger scale than we've seen the past few days, I still see this as indecision chop.

Not to change the subject.... Here's the weekly copper chart (that will continue to update) but it's an EOD version originally posted by Jacob Snyder:
Message 29767067

stockcharts.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News