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

To: Hawkmoon who wrote (18451)	11/6/2016 6:32:16 PM
From: John Pitera	2 Recommendations Recommended By 3bar Hawkmoon Respond to of 33421

Well the SPX closed right above it's 200 Day MA on Friday. That's the place to be buying in a bull market. We should be seeing a very nice bull move occur presently..... Albeit, it would catch the maximum number of people leaning on the wrong side of the boat if the SPX were to break below the 200 DMA for a day or so. Markets statistically just about never can go down for more consecutive days than 11 - 12. I remember when the AUD bond market was down for 12 straight days in Sydney in 1986, everyone on the Citibank trading floor were very bearish and had a very nice swing up in price. The full stochastic has reached an extremely oversold level.... we'll have to keep an eye on the money flow index. John