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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (7148)	5/27/2005 6:34:03 AM
From: macavity	Read Replies (1) \| Respond to of 33421

At an IT reflation low? If it were not for stocks, i would say that we were at a near perfect reflation low. (Though stocks do tend to lead to the upside) Reflation Trade - Sell Dollar/Buy-anything-else-but-not-$bonds. However Quarterly charts for my deflation (non-inflationary recession) scenario have all changed in the past month or so. Quarterly lows have been taken out for stocks, gold-stocks, currencies and bond yields, signalling that we do not have an inflationary recovery. I think the market is waiting for the resolution to the Euro constitution referendums before it makes fools of us all. This 2 week stock rally looks a phony, but I guess only time will tell. There is enough short term strength from my indicators to suggest that there is still more to go. However a break of $SPX=1185 and we have another ball game. -macavity