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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (19468)6/27/2017 12:56:10 PM
From: The Ox  Read Replies (2) of 33421
 
Hard to judge whether or not the latest SPY movements are just a sideways--catch your breath--action for June before a solid run into and through July's earnings releases? (wolfgangrene's 60 minute SPY chart)

A lot of reasons why the market could take a breather here but no reason it has to do this! From a long term bull perspective, the sooner we get a decent backfill move, the more likely the long term run can stay solidly intact. VXX looks like it could do one of it's short lived rebounds as well (bottom chart).

Oil found pretty decent support the other day and it's still within my view of $40-60 for the next year or 2. This range is just a personal expectation, fwiw....





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