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......