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

To: John Pitera who wrote (18358)	8/8/2016 5:48:11 AM
From: humble1	Read Replies (1) \| Respond to of 33421

JP: yes, the 29 years since 1987 is of interest. here is one of several reasons. it is the 1.5 extension of 1929->1987. 1929 -> 1987 = 58 58 x 1.5 = 87 1929 + 87 = 2016 I hasten to add that many scary line ups like this can be found and it would not mean doom even if it hits. Mainly, the chart action into anything like this MUST confirm PLUS a price objective MUST be hit for a sell. My base case is that we are heading for SPX 3525, fwiw. But the future is not set, no matter how interesting the confluences. p.s. 9/4/29 was the pre-crash high and 2016 has a key high-low-high right on that date: 7/20/15->2/11/16->9/4/16 plus .. there is a Lindsay hit on/near the 9/1 solar eclipse hmmmm ... but what if it's a low? must see a rally into the 9/2 new moon + 1 to worry about that one. either way, the wisest move is to be O-U-T by late august IF we spike into it. SO FAR the market is doing exactly what would be expected for a major high between 8/25 and 9/16, the puetzian lunar eclipse.

To: John Pitera who wrote (18358)	8/8/2016 9:20:47 AM
From: richardred	4 Recommendations Recommended By John Pitera mary-ally-smith robert b furman sixty2nds Read Replies (1) \| Respond to of 33421

Hi John: FWIW John as you know I was around trading in 1987 and before. I don't know if I'm in the majority or minority. Even though I'm just an individual stock picker. I don't trade indexes or EFT's. I personally don't feel the irrational exuberance in these current conditions as in 87. Some conditions, I've been seeing, corrections on earnings misses. IPO 's that are also not going through the roof. I also don't see enough signs to warrant a US recession. Poor world growth with poor outlook conditions currently. So near term, I don't feel US equities are overpriced. Consequently IMO I see US debt instruments being unattractive near term. I'm also in the camp tax cuts both corporate & personal will drive major growth going forward. A big If, but if, a plan such as this gets passed and put in place. Especially with current low rates, in unison with tax cuts. I see the US markets taking initial pause, but actually rising on gradually rising interest rates. This as market are content with rising corporate profits and increasing GDP growth. However as rates rise due to tax cuts. I see fast rising interest rates making debt instruments and the long depressed financial sector attractive. P.S. JMO- I know what I feel and what actually happens, might just be a pipe dream, but hey, I want to see America succeed and thrive. Also considering Brexit. It was an eye opener to see Softbank buy ARM for 32 billion. I also see China still wanting to buy US companies. Deals they can get by the FTC.