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Strategies & Market Trends : John Pitera's Market Laboratory
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3bar
John Pitera
sixty2nds
To: 3bar who wrote (18729)2/14/2017 9:10:06 AM
From: The Ox3 Recommendations  Read Replies (1) of 33421
 
These bullish moves last until they don't.... RIght now, the sellers are getting swamped by buyers at nearly every support level.

Just a word of caution, that when this changes, it can change in a hurry and without much warning. Selling, in general, feeds on itself much more so than buying. Now we've seen nothing like this for months, so until you see some real warnings signs, I would not overreact to any "simple weakness". If we see a major support level or 2 broken to the downside, then there should be some yellow or red flags.

We've seen blue sky breakouts in every major index. That is not bearish in the slightest. The only contrarian issue is how low VIX is and that since we haven't had a pull back of any significance in a relatively long time, one should be careful with new positions....
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