Market Report 11/30/15

Market closed at 17719, tripping the sell trailing stop at 17802, gain 104, daily still in uptrend, stochastic mixed, monthly 4th monthly sell signal, Support 17297, 16000. USD/CHF rally still raging, Gold/GC monthly trend reversal, Support 881,703, Resistance 1085. Continuing jiggling of the markets by Yellen's refusal to return to normalization of interest rates is already starting to undermine the world banking system, with numerous banks and sovereign funds running out of cash or raking large losses like the Japan largest pension fund that lost 64 billions lately (read the blog on that), so it is only matter of time when large multinational companies and in fact whole countries will be unable to meet obligations to US banks, the fragile edge before falling into the abyss. Will this madness make it until the Dem's win the White House? I seriously doubted. The drop of gold and the resumption of the downtrend is not a good news, it always has been a bad news, including 2008........Disclaimer: Investing in the stock market involves risk of loss. The market commentary provided by bibi1581.blogspot.com is for entertainment purpose only, and it is not to be construed as suggestion or investment advice to buy or sell securities. Always consult a registered investment professional or broker before committing money to any stock or option instrument. Bibi1581.blogspot.com is not responsible for any direct or consequential losses incurred in violation of this disclaimer. Read all SEC rules and regulations before making investment decisions.

PS: Let's take a moment and remember Richard Russell who passed away in Chapel Hill NC. Richard spent 58 years as the editor of the Dow Theory Letter, and in all those years of frightening declines and joyful rallies, he was the reference point of sanity and reason for all of us who spent a lifetime trading the markets. Let's pray that he is on the right side of the Greatest Market technician of all times, our beloved Father and Savior Jesus Christ.