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

To: The Ox who wrote (17540)	1/6/2016 1:09:45 PM
From: John Pitera	Respond to of 33421

great chart..... this has been a real traders market where we regress to the mean and your observation " and believe we'll bounce or retreat whenever we get near the top or bottom. As we are approaching the bottom of the channel, I think we're due for a bounce'" is the way that the traders and hedge funds are operating... and every time we see big stock weakness, you have institutional buyers doing individual stock accumulation according to their research. and there is a lack of alternatives for so many of the fund managers. and when I say regression to the mean trading many are doing something akin to running 60 minute charts of the SPX and other indicies and buying as we get to the bottom of the channel and lighten up and sell at the tops of the channel. As well as we have several support levels on the daily charts in the SPX, NASD etc. Now this could evolve into a more generalized heavy sell if...... (when) Crude gives up key levels..... very important to see how it acts as we arrive at this key Fibonacci target and the 2009 lows. JP