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

To: The Ox who wrote (19011)	4/11/2017 11:48:21 AM
From: John Pitera	Respond to of 33421

Yes ayn Rand sure was an atheist..... many people feel that "Atlas Shrugged" is one of the best of the 20th century.... "Who is John Galt"....... when Ron Paul ran for President in 2012, there were many slogans "Who is Ron Paul" a play on the famous quote of the novel. back at in 1998 when the Modern Literary Society and many other were coming out with there top 100 novels of the 20th century...... I asked James Cramer his top 5..... He had "Anna Karina" " War and Peace" "Cross of Iron" "the Brothers Karamazov" and one other... Bob Prechter had only 1 book "Atlas Shrugged" he was not as convivial talking about books. John

To: The Ox who wrote (19011)	4/11/2017 5:27:47 PM
From: Doo	1 Recommendation Recommended By alanrs Respond to of 33421

Huh?

To: The Ox who wrote (19011)

4/12/2017 12:09:55 PM

From: John Pitera

Read Replies (1) | Respond to of 33421

Hi Ox, you can follow along with Bob, Chip and my meandering conversation on the meandering markets -g-

To: robert b furman who wrote (75371)4/12/2017 11:39:53 AMFrom: John P of 75373 Thanks Bob,

yes we are in so weird A-B-C corrections in all the stock indicies... as I have been saying it's a holy week
and there are these military tensions as an rip current..

I know this is the semi thread but it may benefit folks to understand that it's choppy waters...

Katie Stockton at BTIG has pointed out that the VIX is above it's 200 dma and she has commented that it
we could see continued volatility and bearish action down to 2280 on the SPX...if we can not hold the 50 dma ... I suspect 2260 ....

here is the NDX just to illustrate the type of corrective patterns many think we are in.......

take advantage of the open house EWI open house is my thought.

Posted On: April 12, 2017 10:43 AM
Bottom Line: Currently allowing for up as circle-d within a wave-4 running triangle.
June e-mini futures discount < 1 4/12/2017 10:40:52 AM ET - (Last: 5390.00) Patiently expecting trade to reveal whether wave (b) is complete already, or if another wave down will be needed to retest 5375 before it is. A move up and beyond 5413 would imply wave (c) within circle wave-d was likely in progress. "4/12/2017 9:32:41 AM ET - (Last: 5391.55) To start today’s session both charts show only the wave-4 running triangle pattern as the preferred count. There is some work to be done to show it’s truly the pattern unfolding. Yet if it is the correct pattern, the next meaningful intraday move is expected to be up within circle-d of the triangle, action that could extend toward the 5460 region before turning down again in wave circle-e. This ‘triangle’ view here in the NASDAQ has yet to be proven to be correct. Note that this leg down in what has already been labeled as wave circle-c, could endure another low and remain only the circle-c with in the structure. What the index cannot do on the downside is take out the low of the 27th of last month at 5316.02. Otherwise, holding above or right around the proportionally significant 5375 subdivide would keep the triangle on track, and the intraday expecting a rally session. Questions and comments are welcome. Tom Prindaville ProServices@elliottwave.com

the SMH could well close below the 50 dma and I suspect the volume may not be that high today..we shall see

John