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

To: The Ox who wrote (18665)	1/30/2017 11:44:03 AM
From: robert b furman	1 Recommendation Recommended By The Ox Read Replies (1) \| Respond to of 33421

Hi OX, Yes we did need a reset and we are getting it. I'm thinking it mat well be a bit longer than most think. We have been big time over bought. The market makers need to pick up some discounted stock. The last two options expiration have sold off a lot of high priced stock. We need a corrective move that goes down into February 17th option expiration is what I'm guessing. This morning's drop is a 5-3-5 zig zag and it has created many island reversal's from last week's boost up. Time to be a bit patient and let things work their course: screencast.com I'm thinking this ABC will turn out to be a bigger A - with Bigger B and C yet to unfold. Macd and RSI must get into the negative zone to work out over bought - unless this is an unreal strong market. I'm OK with either one. Bob