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

To: John Pitera who wrote (19468)	6/27/2017 11:57:10 AM
From: John Pitera	2 Recommendations Recommended By roguedolphin The Ox Respond to of 33421

The US Markets should have a push up and window dressing into the end of the week which is the end of the Quarter, a good time for window dressing, stocks that have been down a lot like Kroger and the retailers that, have been hit hard will probably be washed out of managed portfolio's . We also have positive seasonality with July 4th week end coming already. As well as companies in overcrowded spaces such as the auto parts companies. such as AZO, AAP, ORLY continue in there bear markets. Message 31065445 (OX's timely mention of the auto parts companies on April 10th) which we had been speaking of over the past 2 years. Message 31065484 ( my comment on let a stock you are trying to short get fully distributed and broken..... This really applies to folks trying to short TSLA and other stocks with a real high short sale ratio) -------------------- Draghi in Euro-land was talking of tapering his very easy monetary policy, "He commented that the threat of Deflation is gone"... a huge change from a 12 months ago. and that has had very positive effects on the EURO and bund yields went quite significantly. Euro-land has benefited from a prolonged period of a lower Euro over the from 28 months until the start of the 2017. And global hacking goes on.... what companies, governments etc are prepared with back up systems. bloomberg.com John

To: John Pitera who wrote (19468)	6/27/2017 12:56:10 PM
From: The Ox	Read Replies (2) \| Respond to of 33421

Hard to judge whether or not the latest SPY movements are just a sideways--catch your breath--action for June before a solid run into and through July's earnings releases? (wolfgangrene's 60 minute SPY chart) A lot of reasons why the market could take a breather here but no reason it has to do this! From a long term bull perspective, the sooner we get a decent backfill move, the more likely the long term run can stay solidly intact. VXX looks like it could do one of it's short lived rebounds as well (bottom chart). Oil found pretty decent support the other day and it's still within my view of $40-60 for the next year or 2. This range is just a personal expectation, fwiw....

To: John Pitera who wrote (19468)	6/28/2017 10:07:06 AM
From: The Ox	Read Replies (2) \| Respond to of 33421

Nasdaq walking a fine line at the moment. Overnight it set a new 20 day low and is testing the area from the first part of May. It appears important for the short term that this area hold but we are also approaching the "window dressing" time of the month/quarter. With this as a backdrop, some short term weakness may not be enough to cause a serious correction at this time. Having said this, the way the currencies around the world have been moving over the past 7 days is pretty remarkable and this "volatility" may be signalling that investors are not as comfortable with the US markets. The strength shown in both the Pound and the Euro since last Wednesday's lows is very impressive!! EDIT- strength in almost everything vs. the USD says a mouthful ...Peso, etc...