Market Report 5/23/16/, cover short trailing stop 17550, gain(50), CG(5820), 11/20/15
Yellen boiling bones, bones chicken bones.
$DJI Futures +5, market down a tad, penetrating the critical 17500 in declining tops similar to 2001 and 2007, break below 16800 coming, 5 out of 9 stochastics up, $DJI in a down trend, support at 17118, failing that next stop is 15,500.
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. A breach of the top formation of the upper corner of the declining tops triangle resistance bounded above by the 17803 and below by 17,504,16,975, 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. Trump cuddling fat Establishment GOP cats in his search for VP, including Senator Porker from TN, trying to unite the party and concentrate on Hillary whose support is slipping courtesy of Sanders. Did Trump made a deal with the devils of the NewWorldDisorder to get into the White House? Check "In the Tracks of the Cobra" for a further look at possible scenarios in case Trump is elected despite all IED's laid down by the Establishments conspirators and saboteurs.
$DJI Futures +5, market down a tad, penetrating the critical 17500 in declining tops similar to 2001 and 2007, break below 16800 coming, 5 out of 9 stochastics up, $DJI in a down trend, support at 17118, failing that next stop is 15,500.
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. A breach of the top formation of the upper corner of the declining tops triangle resistance bounded above by the 17803 and below by 17,504,16,975, 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. Trump cuddling fat Establishment GOP cats in his search for VP, including Senator Porker from TN, trying to unite the party and concentrate on Hillary whose support is slipping courtesy of Sanders. Did Trump made a deal with the devils of the NewWorldDisorder to get into the White House? Check "In the Tracks of the Cobra" for a further look at possible scenarios in case Trump is elected despite all IED's laid down by the Establishments conspirators and saboteurs.
Gold /GC closed below support down to 1250 due to strong dollar, 5 out of 9 short term stochastics are down, a break above 1300 now in doubt with the strength of Trump, resistance 1352, support 1168, long term support at 1045. USD/CHF is up to 0.9917, a reversal to daily uptrend, a good correlation with gold, higher interest rates possible coming soon due to Trump growing following,..., 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 up, rates hike may finally on the horizon, even from Yellen but not for sure until Hillary is elected. 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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