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

To: rogermci® who wrote (18649)	2/1/2017 5:24:38 AM
From: John Pitera	Read Replies (2) \| Respond to of 33421

HI R, CLR certainly does not look good..... It broke quite a bit below it's lower BB, the RSI Moving average system is on a sell, the Money Flow Index does not look that good. WTIC is looking a little softish.... we have been in a pretty narrow range for the past 2 plus months. The RIG count has been going up each week for a number of months. I think you have found a good heads up with the break in CLR and WTIC may well follow. With this border tax craziness there is some moderately serious talk that there will be an arbitrage between WTIC and Brent Crude.... the arbitrage would close the 20% border gap difference between Brent with a 20% tax on it vs. home grown crude...... Lots of of what I would normally call "crazy talk" but the ridiculous stuff going on with this administration, the congress not putting Trump's cabinet in place ....only 3 appointments by the end of January and the previous 3 presidents all had 10 members of the cabinet by the end of Jan. you have to go back to 1933 to see cabinet members approved so slow and I believe that was the first year that the Inaugural was moved back from mid March to it's present January 20th.... and we were also in the middle of the Great Depression..... FDR closed all the banks... made the ownership of Gold illegal and was wheeling and dealing 10 times what Trump is doing. at least the Supreme Court pick looks outstanding. ------------------------------------------------------------------------------- 10. Economists and businesses are betting that cutting back federal regulation will boost growth. ---------------------- another copper chart CommoditiesCopper rose sharply as traders expect workers at a large Chilean mine to go on strike. ------------------ and food for thought...... 3. Global nuclear reactor inventory. JP