Market report 9/9/15

As predicted, $DJI hit the upper leg of the declining triangle at 16671, then flashed a daily buy signal, reversing into 400 points drop when USD/CHF rally topped out. Futures are at -178 and unless Auntie Yellen puts some money in the system, $DJI will test the lower resistance band at 15970. Like mad man pounding his head at the stone walls of the asylum, the market with funds infusion by the Fed is squashing into the corner until the market makers cannot hold any longer and give into a breakout. Again with two confirmed monthly sell signals, the direction is down, yet the political cronies will intervene until a large opening on downward gap seals the envelope. The gold has also topped out after the dream of yuan supported IMF ETF have evaporated with the current crash in China. Depending on portfolio and risk preferences, a distant put position is always a wise move. Until then, let the market talk, while we eat our steak, drink a bottle of ice cold beer, smoke a cigarette (just a joke) and read the newspaper. 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.