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

To: The Ox who wrote (18809)

3/15/2017 12:33:18 PM

From: John Pitera

Respond to of 33421

Hi Ox, excellent point that the energy complex is no where near the lows we experienced in early 2016 when Crude touched $26.05 on Feb. 11th 2016 (it might have been the 6th of Feb.

and Nat Gas was down at $1.60 on the nearby contract.

I just sat through a live Rob Hoffman trading seminar..... they scheduled it 4 months ago for 10 AM today... and of course.... this is a horrible, thin... trend less market.. in most of the major commodity markets.

He tried a couple of crude trades after the number came out... but there was not really anything but choppy action.

he is my post from GZs thread last night where I pointed out that even with the WTIC taking out the 200 dma... the market then tends to have a rebound rally off from below it ....

i was responding to this post regarding the number of days the SPX has not had a 1% decline

Message 31030005

To: GoodGord who wrote (90583)	3/14/2017 11:38:33 PM
From: John P	3 Recommendations Read Replies (1) of 90625

Hi Good, It's very interesting that I would say that 90% or so of the instances where the SPX was able to go over 100 days without the 1% pullback came in time periods of a larger secular bull market. 1954, 1957, 1961, 1963, 1964, 1966, 1967, 1985 1995..... all strong periods of time for stocks..... 1995 was a horrible year for bonds and Orange County California defaulted on their Muni debt..... but stocks did well. This type of market behavior that we have seen.... appears to be more the theme of bull markets. Katie Stockton of BTIG is a pretty reasonable technician...... she was commenting on a pull back to SPX 2280... last week... WTIC cut right through it's 200 dma like it was not there..... but it tends to get support after it has broken below it. JP

Ox here are the Long term Energy complex chart.... last 10 year weekly.

Notice how WTIC has been catching support on it's 50 week MA.

Hear is the 10 year gasoline chart.

The 10 year weekly Heating Oil continuous contract

The 10 Year Natural Gas chart

I don't know why the weekly data from Tradestation is diverging as much as it it with Natural Gas

this chart is really cutting and snaping too many pixels for the chart to come up with good definition.

John