John Pitera's Market Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: robert b furman who wrote (20119)	10/10/2017 6:26:07 PM
From: John Pitera	of 33421

Hi Bob, you are very adept at using and interpreting the 2 cs as well as the CLX and the different time intervals on it. It's interesting that the FAANG, stock are at resistance, FB, GOOGL, AMZN, NFLX is in the best shape among the group. AAPL broke below it's 50 dma and has come up to touch it from underneath.... some traders would be taking profits as it approached the 50 dma from underneath TSLA has had a string of negative of fundamental news items...... a long litany for those following it closely . The stock may be in an ascending triangle with horizontal resistance at $386 -389.. So if the market does have a leg higher and the short interest has typically been large in TSLA we could see it break out to the upside and the measuring objective would get you to $465 or so.... right now it's at the 50 dma... the SMH -- the SOX ETF is super strong as is NVDA..... The SOX is probably the strongest sector in the market, depending on what time frame one uses..... the SMH has made a new momentum high compared to the Sept peak.... so it's just en fuego...... the chips are red hot... Here is the weekly SMH ---- it has been a rocket ship as you well know... it is interesting to see the deterioration in the Money Flow index and especially the Chaikin Money flow indicator. There is also a relatively minor momentum divergence on the RSI.... when the CMF went negative in 2015 the SMH did have a further sell off where it returned to it's 200 week MA at 44.67 the week of Feb 8th 2016. The 20 year monthly chart of the SMH shows that we are a LONG way above the 50 week MA and the 200 week MA. On a Monthly chart..... well there has been a meteoric advance in the ETF. One thing to consider is that the assets on the balance sheet of the BOJ and the ECB..... since they both have stocks as part of their holding..... the balance sheets are increasing in value..... I could believe that the global central banks have roughly $19 to $20 trillion dollars on their balance sheets due to the appreciation of many of the assets that they own. Even the FED is collecting coupon interest payments on their $4.6 billion balance sheet so that amount should be rising.... the cryptocurrencies and the ICO's the Initial Coin offerings are a wonderful liquidity builder....... there is no doubt there is a lot of liquidity out there in Market land...... Life is good......... one would surmise. John

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next