Market Report 3/21/16, stop 17,350, gain(950), CG(3520),11/20/15

Gold /GC fell to 1244 inline with USD/CHF gain, 5 out of 8 stochastics up, daily trend up, resistance 1336, support 1173, we are watching for confirmation of a 2nd monthly buy signal in four months, long term support at 1045. USD/CHF inched to 0.9696 following news that China is to relax the stock margin requirements, USD/CHF in long term decline, very sluggish, 5 out of 8 stochastics down. DJI Futures -8 , short term sell trailing trade stop 17,350, gain(950) since establishing position at 16,400, break of the resistance envelope, market broke the lock on one deviation of the pivot of 16,160. 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. Market out of equilibrium with 5 out of 8 partial stochastics up near a top, 1st weekly buy in some time, test of the moving average resistance at 17284 was successful and region of selling pressure is behind, market has broken the upper corner of the declining tops triangle bounded above by the 17317 and below by 16,500, 15,400 mean support band. Watch for DJI breaking 17,350, 16,400, and 15,391 support and gold breaking over 1282 after correcting to lower 1100. Market is correlated with the Chinese yuan and gold as if Trump does not exists, yet another RNC quasimodo stated today that the GOP will choose the nominee and not the voters, a "Duke of Hazzards" stop sign removed on the way of eliminating the conservative base and handing out the power to Comrade Clinton. Watch the stop at 17,350........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.