Market Report 5/11/16, cover short trailing stop 17900, CG(5320),11/20/15
DJI Futures +66 after market losing 217, triggering sell stop at 17900 for a gain of zero, new sell short position established at 17900, 5 out of 9 stochastics down, a daily sell due to a spike in volatility.
On the DJI monthly chart the market is in 8th month of monthly down trend, and the money printing has led to a trend reversal upward, first buy in almost a year, yet we see signs of Insiders showing fear of Trump Presidency and long overdue removal of Yellen. 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 finally showing a loss of the "US is immune" to Forex market arrogance and fear creeping in the Obama's sacred cows on Wall Street. Translation? Rats jumping or ready to jump of the endless money printing ship since the news of US Treasuries haircut surfaced this week. What if the Establishment renews attack on Trump by unleashing perennial loser Cruz or some other clown at the Convention? What about if Comrade Sanders flips criminally burdened Clinton and faces Trump? A lot of acute danger ahead, time to raise some serious cash and establish positions in tangibles. Do you remember the Greek robbery by Merkel, Draghi & Co? Check Sorbane's chilling thriller "Ziban Must Die" for further details.
Gold /GC closed down to 1270 after correcting to 1200 level, 5 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 sinking to 0.9695, 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 cover short stop at 17900, short 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 has led to a trend reversal upward, first buy in almost a year, yet we see signs of Insiders showing fear of Trump Presidency and long overdue removal of Yellen. 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 finally showing a loss of the "US is immune" to Forex market arrogance and fear creeping in the Obama's sacred cows on Wall Street. Translation? Rats jumping or ready to jump of the endless money printing ship since the news of US Treasuries haircut surfaced this week. What if the Establishment renews attack on Trump by unleashing perennial loser Cruz or some other clown at the Convention? What about if Comrade Sanders flips criminally burdened Clinton and faces Trump? A lot of acute danger ahead, time to raise some serious cash and establish positions in tangibles. Do you remember the Greek robbery by Merkel, Draghi & Co? Check Sorbane's chilling thriller "Ziban Must Die" for further details.
Gold /GC closed down to 1270 after correcting to 1200 level, 5 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 sinking to 0.9695, 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 cover short stop at 17900, short 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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