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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Chip McVickar who wrote (18821)3/16/2017 12:26:09 AM
From: John Pitera1 Recommendation

Recommended By
The Ox

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Always delighted to talk to you Chip... take a look at the SPX price extension boxes in this post..... after a while much of the more advanced time and price projection concepts become easier to work with and the tools are so much easier to use.

The markets were in an overall feeding frenzy today.... currencies up sharply, stocks up nicely, bonds up in price nicely, the energy complex up a couple of %, the precious metals up, agricultural commodities up

Silver turned right on it's .618 retracement to the penny... @ 16.87 .and has zoomed up to wouldn't you know it a .382 retracement level again.



Gold which as we recall from 2 weeks ago sold off exactly off it's 200 dma.... Message 31007910

a wee bit above it's 50% retracement and it back at it's 38.2% retracement tonight again as well.



The SPX has really responded well to the low it may the day prior to the election when the SPX hit it's 200 dma... Message 30828363

See how the impulse wave from that low of SPX 2083.79 on November 6th 2016 up to high at 2214 on November 25th then generated the Fibonacci price extension box that has provided target resistance at each price projection higher. and the .382 of the the second box is the 1.382 of the first projection box from the june 27th 2016 low at 1991 basis the cash and the first impulse move that took it 2109 on July 1st 2016.

The 1.618 price projection box of the move from the June 27/2016 low of SPX 1991 up to that July 1st high of 2109 is also almost perfectly overlaid with the .618 price projection box from that impulse wave that kicked off with the preelection low at the 200 dma on Nov 6th 2016 up to the Nov. 25th high.

Larry Pesaveto has an 1 hour and 47 minute video on youtube and there are a couple of related ones where these guys lay right out how they use some really amazing stuff.

And since so many institutional systems use this stuff it self fulls



and those darned simple 200 dma... the SPX back in Nov.

To: humble1 who wrote (24660)11/6/2016 6:26:05 PM
From: John Pof 25633
Well the SPX closed right above it's 200 Day MA on Friday. That's the place to be buying in a bull market. We should be seeing a very nice bull move occur presently..... Albeit, it would catch the maximum number of people leaning on the wrong side of the boat if the SPX were to break below the 200 DMA for a day or so.

Markets statistically just about never can go down for more consecutive days than 11 - 12.

I remember when the AUD bond market was down for 12 straight days in Sydney in 1986, everyone everyone on the Citibank trading floor were very bearish and had a very nice
bull move up in price.



The full stochastic has reached an extremely oversold level.... we'll have to keep an eye on the money flow index.

John
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