Market Report 5/4/16, cover short trailing stop 17850,gain(150), CG(5170),11/20/15
DJI Futures +35, market down to 17651 closing below trailing cover short stop of 17850, new position sell short at 18000, cover short on close at stop 17850, possibly a shallow move. 4 out of 9 stochastics down, a fresh monthly buy, weekly also in a uptrend, short term stochastic negative, overbought dip possible before attack on the highs over 18351. Monthly trend up, resistance above at 18351 all time high, plenty of support below at 17816,17,116, 16870.
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 fresh victory by Trump it becomes very doubtful if the only way to go is up, a breach of the top formation of the upper corner of the declining tops triangle resistance bounded above by the 17803 and below by 17,603,16,975, 15,946,15,370,and 12081 mean support bands. Watch for DJI breaking support and gold breaking over 1282 after correcting to lower 1100. A Trump victory in Indiana and Cruz and Kasich both dropping out of race creates a power surge for GOP and fear in Hillary's camp. Gold rallying on Trump victory near 200 day MA, a sure signal that there is trouble within the Unified Party USA strangle on power. The free fall of the USD that dropped from 1.03 to 0.9532 following Yellen refusal to raise rate in support of her dearest Hillary, and now Trump fear reverberating in the markets, a sure sign for one to check his valuables and buy more Swiss franks or gold in anticipation of Republican Presidency. The Chair of RNC assurance that Trump is the nominee and call for unity must have sent shiver in already fearful Hillary, who according to a Judge may have to appear in front of the court. With all those cross currents, a fundamental change in trend will bring great fear and uncertainty in the markets, and how the Intelligence Services of the US will react to a such blatant change of direction is not clear. Check Sorbane's chilling thriller "Ziban Must Die" for further details.
Gold /GC closed up to 1280 after surging over 1300, 5 out of 9 short term stochastics are down, a break above 1300 coming, resistance 1352, support 1173, long term support at 1045. USD/CHF is up to 0.9561, a reversal to daily downtrend, a good 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 stop at 17850, buy position established at 18000...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 fresh victory by Trump it becomes very doubtful if the only way to go is up, a breach of the top formation of the upper corner of the declining tops triangle resistance bounded above by the 17803 and below by 17,603,16,975, 15,946,15,370,and 12081 mean support bands. Watch for DJI breaking support and gold breaking over 1282 after correcting to lower 1100. A Trump victory in Indiana and Cruz and Kasich both dropping out of race creates a power surge for GOP and fear in Hillary's camp. Gold rallying on Trump victory near 200 day MA, a sure signal that there is trouble within the Unified Party USA strangle on power. The free fall of the USD that dropped from 1.03 to 0.9532 following Yellen refusal to raise rate in support of her dearest Hillary, and now Trump fear reverberating in the markets, a sure sign for one to check his valuables and buy more Swiss franks or gold in anticipation of Republican Presidency. The Chair of RNC assurance that Trump is the nominee and call for unity must have sent shiver in already fearful Hillary, who according to a Judge may have to appear in front of the court. With all those cross currents, a fundamental change in trend will bring great fear and uncertainty in the markets, and how the Intelligence Services of the US will react to a such blatant change of direction is not clear. Check Sorbane's chilling thriller "Ziban Must Die" for further details.
Gold /GC closed up to 1280 after surging over 1300, 5 out of 9 short term stochastics are down, a break above 1300 coming, resistance 1352, support 1173, long term support at 1045. USD/CHF is up to 0.9561, a reversal to daily downtrend, a good 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 stop at 17850, buy position established at 18000...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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