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

To: John Pitera who wrote (21117)	7/31/2018 7:36:33 AM
From: John Pitera	Respond to of 33421

HI Bob , humor me... if this move off of the orthodox high of 2873. with the sharp correction into the Feb 9th low ...... where will the C wave bottom occur....?? just as a theoretical calculation. not trying to be cocky...... but what would the orthodox calculation provide? I know you are very adept at Elliott Wave analysis. John

To: John Pitera who wrote (21117)	7/31/2018 7:49:13 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

believe me I don't like the answer....as I just want to keep short the 2 and 5 year sept futures CME contracts and I will have to pull those positions.... those shorts in the yield curve if we get a bigger equity sell off...... it would rather have TOny Dwyer be right...... and have the stock indices move higher and and i we could just stay short the 2 and 5 year t note futures........... and spread it out to the 10 year. John

To: John Pitera who wrote (21117)	7/31/2018 8:58:31 AM
From: robert b furman	3 Recommendations Recommended By Don Green John Pitera sixty2nds Read Replies (2) \| Respond to of 33421

Hi John, If one thinks that big wave started at 1810.10 and topped at 2872.87 a minimum 38.2% retrace would take us to 2466ish 50% to 2341 61.8 to 22.16 In another 30 points it becomes a very rare running flat. Henry has a read that a symmetrical triangle has just been broken out, of that takes us up over 3045. Message 31722164 Clx studies say this week and next have a tailwind up. 2cs has reversed from a toppy appearance at 2848. So we need to say it's not a sure read either way. I'd look at the most recently announced earnings have been generally stellar. Buy backs are huge (LRCX just bought back 800 million in a quarter! Msft has hit a new high on good earnings. Facebook and netflix have peaked with subscriptions slowing and regulatory oversight increasing their costs so they become truthful vs featuring other than truthful people with other than opinion being expressed. Hard to expect a big retrace in light of huge earnings increases. Remember it is all about supply and demand for the shares. With the companies buying back their shares in such large volume, the poor market makers are pulling out their best moves to accumulate inventory. If you had a hard time getting inventory (and were the market maker) how excited would you be about creating shares by going short - only to see the company buying up the inventory you just took a chance on creating? Always good to hear from you John. Gardens doing well ! Bob