John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (19348)	6/6/2017 10:25:23 AM
From: robert b furman	Read Replies (2) of 33421

Hi John, Today we are in rare elevations. Clix and PP numbers are where they turn and decline - right now! @ cs has once again hit a new low of my tracking it at 40.87 - It got into mid and hi 30's in 2000. Les's semi conductor Macd number is a lofty 4.09. We are in a historic rally with big caps leading and small caps lagging. It is a typical beginning of a euphoric rally that given more time - will roll over as far as big caps are concerned and fill in with higher (on a percentage basis) run up on the small caps. Of course it can be different - but what we want to look for is breadth improvement and mid caps rotate - when small caps are the only thing going up it'll be time to unload - a bit early. So far breezes chart that shows this 4th wave was a rare running flat and we are now early into a new impulsive 5 up seems to have a power all of its own. I think going short to play the swings is far too dangerous in a fast market. All surprises are to the up side. What takes discipline is to have ice in your veins and watch the run up. No need for new positions - just let your winners run! WWW is tomorrow and this market may run right through it. Bob

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