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Strategies & Market Trends : John Pitera's Market Laboratory

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To: The Ox who wrote (19254)	5/17/2017 11:05:22 PM
From: John Pitera	Read Replies (1) of 33421

Hi Ox. excellent observations...... I commented on your QQQ chart that you posted on the collaborative trend: The ADX market trending level on the QQQ was registering up at the extreme high levels that it only gets to when the market is finished trending in the direction that it's been going. That shows up very nicely on your QQQ chart. look at the BKS daily index..... how after making it's price high back in early March it has been selling off and had been rounding over being sold consistently at the 50 DMA before taking a big hit down today. The Daily TNX has been coming down in yield very nicely with the sell off in stocks . It is already rapidly approaching it's 200 dma which also happens to be the .382 retracement of the advance off of last July's low up to December's high at the 2.62% level we saw at the peak in the 10 year yield. John

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