Market Report 9/21/15

As we predicted , DJI churned in the 16300 area without violating the trailing stop at 16280. Market then took of to close at 16510, pushing deeply in the resistance band of the 17800 area, new trailing stop at 16350, Resistance 17113,17685, Support at 16000, 15300. Market is ignoring Trump latest poll at 34%, Fiorina at 10%, or is it celebrating it? Indicators are mixed with USD/CHF bottoming out and moving up, followed by gold, also in rally Resistance at 1165,1174. But that is a contradiction, since dollar and gold have a negative correlation, hence or the Insiders know something we don't, or the negative interest rates are skewing the log-normal pdf's models to the point of forced breakout in one of the indicators. At any rate , the rally in continuing, probably because Auntie Yellen printed 2 Billion of WV 17 dollar bills and flooded the Banking system with it. Keep a tight stop at 16350 and pay attention. 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 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 regulation before making investment decisions.

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