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

To: rogermci® who wrote (19814)	8/29/2017 9:36:34 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Roger, where in my post did I talk about sentiment...... I know senility must be setting in on me but, you lead off you note to me with something that I don't believe I said..... can you show me where I said that in the post please You said current sentiment is resiliently bullish. I'm delighted to discuss the other points...... I just got to know where that is in my post. many thanks, John

To: rogermci® who wrote (19814)

8/31/2017 8:14:49 AM

From: John Pitera

Respond to of 33421

Hi Roger,,,

maybe some of these other markets are a bit easier than stocks......

a post from GZ's thread...

To: GROUND ZERO™ who wrote (96156)

8/31/2017 8:02:12 AM

From: John P

of 96160

Good Morning GZ,

actually we went from starting the week very long the EUR and the JPY and being short the USD and then
posted

Message 31242151

To: GROUND ZERO™ who wrote (96111) 8/29/2017 5:10:21 PM
From: John P Read Replies (1) of 96159
HI GZ,

The US Buck may have actually put in some type of meaningful low today....... It will have to be watched.....

Message 31239578

The USD index like Magic caught support at the Fib 1.618 price projection fractal and an even more important Fib point as well as a Fib Arc all clustered at today's low...... I am out of my long Eur for now. .. Been long since 1.14.. and doing some probing initial shorting of the yen

here are the week in the EUR where i came in very long and managed to sell the top and then went short the EUR on the CME futures.

my opinion significantly changed due to the technicals and what has been going on fundamentally the blue numbers on the right are buys the 11 near the top was squaring of the long and then I had a sell of 7 and a little later a sell of 3 more contracts making me short the EUR....

you can see our buying on on 8/26 and just after midnight on the 28th

and then the big sell around 3 PM on 8/29 which got us square and then the shorting on the late afternoon of the 28th, with a little more selling in the wee small hours of the 29th.

copper has continued to work........ This week has been the best week of our year... especially after coming after a strong week last week.

the Yen 60 minute chart shows I went short 9 sept contracts in the afternoon of the 29th of Sept, your
comment regarding the outside reversal day on the Yen chart plus my general bearishness on the EUR as of tuesday and the nice bottoming potential in the US buck had me really flip my currency profile significantly and I have to thank you as it was your negative comments on the JPY that helped to make
me take a closer look and I liked what you were seeing as I was seeing it too.

SO Thank you very much for this nicely trending short Yen trade.........

Please be sure to bring all of your lay ups to me. ---vgb--- it makes my life all so much easier. ;-)

Both of the currencies had very pronounced reversals and it' s tied into some of Draghi's thinking..... what is going on with Brexit the fact that the Germans can not make money exporting at 1.20 and the knock on impact from Hurricane Harvey all created a nice reversal day top..

The Yen on the daily chat had the outside reversal and significant deterioration in the daily Chaikin Money
Flow

so we are thinking alike............... I believe that we are currently thinking the same direction on all of the markets..... except for the stock market the dow futures the Chaikin money flow is negative and bearish for the last 5 sessions, the aroon has given a sell signal on a daily basis

When I run daily charts of the SPX, the DJIA, the NDX, the COMPQ ...the volume on the rally the past days has been quite low.... that could be because of the labor day weekend..... but I have much less confidence the stock futures.

indexes like the smh, ibb, look stronger.... VLO if it can take out $70 it will probably run to 85.

Googl, AMZN, FB, have all started to rally after corrections and NFLX is looking particularly well as it held '
support at the 166 area and has now started to vault upward above it's 50 DMA.

John