Market Report 2/26/16/stop 16150, CG(3520),11/20/15
Gold /GC down to 1222.8, 5 out of 7 stochastics down, resistance 1250,support 1195, we are watching for confirmation of a 2nd false monthly buy signal at the end of the month, long term support at 1045. USD/CHF rally to 1.0262, support 0.9900, 0.9750, USD/CHF in long term decline, DJI Futures -84, market fell 57 to points to 16,640 after after crashing into upward resistance at 16,622. Trump win of the GOP debate and endorsements flowing in make some people shiver, talk of lowering bids on stocks, short term trade stop 16,150, market locked within 300 points of the pivot of 16161. On the DJI monthly chart the market is making the beginning of a new down leg to 15,391 and 11,876, which is bellow the 50% re-tracement point of 12,425, i.e a nasty bear market. 5 out of 7 partial stochastics down, some already topping out, bumping into the resistance 16,400-16,620 band, in extreme volatility 17284 possible due to short squeeze on the bears. Support below at 15,500,15,370 areas, market in the lower corner of the declining tops triangle bounded above by the 16,500 mean resistance band, and below by the 15,400 support band.Watch for breaking 15,391 support and gold breaking over 1282 after correcting to lower 1100.The markets seem to be feeling an ice cold whiff of Trump fear, even the p/e ratio salesmen are starting to think of supply and demand, instead of the charade that been going on for the last 8 years.....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.