Market Report 5/10/16, sell trailing stop 17950, CG(5320),11/20/15
DJI Futures -42, market up 222, triggering cover short stop at 17850 for a gain of 150,new buy position established at 17900, 4 out of 9 stochastics up, a fresh daily and monthly buy, weekly also in a uptrend, short term stochastic negative, overbought dip possible before attack on the highs over 18351.
On the DJI monthly chart the market is in 8th month of monthly down trend, and the money printing of Yellen has led to trend reversal upward, first buy in almost a year, with the Insiders clearly not showing any fear of Trump Presidency. A breach of the top formation of the upper corner of the declining tops triangle resistance bounded above by the 17803 and below by 17,606,16,975, 15,946,15,370,and 12081 mean support bands is still possible, but in doubt. Watch for DJI breaking support and gold breaking over 1282 after correcting to lower 1200. Market tape is behaving as if Trump does not exists, and Sanders plan unveiled today after victory in WV speaks of raising National debt to 40 trillions. If does not scare people, I don't not know what would. Check Sorbane's chilling thriller "Ziban Must Die" for further details, move out of US Treasury bonds and into tangibles.
Gold /GC closed up to 1272 after correcting to 1200 leve, 4 out of 9 short term stochastics are down, a break above 1300 now in doubt with the strength of Trump, resistance 1352, support 1173, long term support at 1045. USD/CHF is up to 0.9735, a reversal to daily uptrend, a bad correlation with gold..., a break below 0.9432 will lead to a drop at 0.7, a crash, USD/CHF in long term decline, a bear market rally last four months now topping out, 3 out of 9 stochastics down, including monthly. Watch the sell stop at 17950, buy position established at 17900...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.
On the DJI monthly chart the market is in 8th month of monthly down trend, and the money printing of Yellen has led to trend reversal upward, first buy in almost a year, with the Insiders clearly not showing any fear of Trump Presidency. A breach of the top formation of the upper corner of the declining tops triangle resistance bounded above by the 17803 and below by 17,606,16,975, 15,946,15,370,and 12081 mean support bands is still possible, but in doubt. Watch for DJI breaking support and gold breaking over 1282 after correcting to lower 1200. Market tape is behaving as if Trump does not exists, and Sanders plan unveiled today after victory in WV speaks of raising National debt to 40 trillions. If does not scare people, I don't not know what would. Check Sorbane's chilling thriller "Ziban Must Die" for further details, move out of US Treasury bonds and into tangibles.
Gold /GC closed up to 1272 after correcting to 1200 leve, 4 out of 9 short term stochastics are down, a break above 1300 now in doubt with the strength of Trump, resistance 1352, support 1173, long term support at 1045. USD/CHF is up to 0.9735, a reversal to daily uptrend, a bad correlation with gold..., a break below 0.9432 will lead to a drop at 0.7, a crash, USD/CHF in long term decline, a bear market rally last four months now topping out, 3 out of 9 stochastics down, including monthly. Watch the sell stop at 17950, buy position established at 17900...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.
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