Market Report 5/5/16, cover short trailing stop 17850, gain(150), CG(5170), 11/20/15
DJI Futures -23, market up marginally, buying time, 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.
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 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 17,606,16,975, 15,946,15,370,and 12081 mean support bands. Watch for DJI breaking support and gold breaking over 1282 after correcting to lower 1100. The market makers on the Exchange are not certain that Trump has a chance, as made clear by both Bush Presidents and Paul Ryan refusing to endorse him, still hopping that perhaps very confused Jeb has a miraculous chance to get the nod. Using the old rule that one never shorts a dull market, it is time to prepare for the next spike of volatility due to unseen and gruesome events. Check Sorbane's chilling thriller "Ziban Must Die" for further details.
Gold /GC closed up to 1280 after surging over 1300, 4 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 0.9694, 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 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 17,606,16,975, 15,946,15,370,and 12081 mean support bands. Watch for DJI breaking support and gold breaking over 1282 after correcting to lower 1100. The market makers on the Exchange are not certain that Trump has a chance, as made clear by both Bush Presidents and Paul Ryan refusing to endorse him, still hopping that perhaps very confused Jeb has a miraculous chance to get the nod. Using the old rule that one never shorts a dull market, it is time to prepare for the next spike of volatility due to unseen and gruesome events. Check Sorbane's chilling thriller "Ziban Must Die" for further details.
Gold /GC closed up to 1280 after surging over 1300, 4 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 0.9694, 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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