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

To: Don Green who wrote (20089)	10/9/2017 10:10:58 AM
From: The Ox	1 Recommendation Recommended By John Pitera Read Replies (2) \| Respond to of 33421

I think the data shows just how strong the internal action has been over the past year. Up days (20% more than down) are not only more prevalent but also stronger by 13% per day. The data may be showing that it's getting a little "too good", as in the past month we've seen 3 out of 4 up days. Getting frothy but not necessarily frothy enough to reverse the trend. One note on VIX, is that more articles have a short disclaimer or a paragraph that references the fact that it's only a trailing indicator. Showing today's action at best. Seeing into the future based on these VIX readings is (more or less) hopeless. Options traders can change on a dime if they see an event unfolding that will have significant short term implications for the markets. The low readings in VIX simply verify what the SPY data is telling us. That the market's strength has been formidable! Hard to say when it will end but we all know that end it will. It's one of the reasons I like to stress, trade what you see, not what you want to see. Respecting the strength has been very important. Expecting the strength to continue on forever is dangerous.