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Strategies & Market Trends : Humble1 and Swing Trading Friends -- Ignore unavailable to you. Want to Upgrade?

To: humble1 who wrote (23262)	5/11/2016 2:13:28 AM
From: John Pitera	Read Replies (2) \| Respond to of 41021

HI: ever since Last friday's strong close this advance is looking like it can really take off and give us the best advance in US and possibly global equities this year.. that is not coming out of a big sell off. The SPX and the other big US indices feel like they can really run from here. CLM will get overtakend by CLN (July crude, will overtake open interest june by close of biz tomorrow.... only a .60 cent pickup with the move to July. I don' t think the US indicies need for crude to do much at all to rally they can rally strongly just on their own merits.. and Gold, silver have pulled back and thus gold as currency is now calming down for this month. Crude might spend more time around $45 and possibly move back up to that $47.50-- $48.00 heading into your June cycle work... I don' think it matters what crude does as it's not going to move much off this $45 level over the next month. And USD index is doing fine no cause for consternation. The Buck is ok and the BOJ has now stated that they will keep the Yen in line and cap it's price appreciation which has been throwing a spanner in the works for a nice smooth broadbased US stock advance. Right now I believe we should be looking at the USD index false breakdown below 92.52 last week was a false break down out of an essentially rectangular consolidate formation. The USD is looking good as our US Equities..... great action in the SPX since last Friday and Tuesday's action really got all systems in a bull mode. John