Market Report report 5/17/16, cover short trailing stop 17650, CG(5820), 11/20/15
$DJI Futures +36, market lost 180 points despite remarks by Trump that he is not an enemy of Yellen, yet ready to replace her with a Republican chief, 6 out of 9 stochastics down, DJI 3rd day in down trend, support at 17118, failing that next stop is 15,500. After being whip shaved by the selling of the long position at zero profit, a new short was established at 17600, cover short trailing stop at 17650 for a loss of $50.
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 is learning to soften his militant style , i.e becoming a politician, the question is will he also become a liar as everyone else within the DC boundary. Will this at the end turn out to be a capitulation to the Establishment and continuation of the outrages of the last eight years remains to be seen. Check "In the Tracks of the Cobra" for a further look at possible scenarios in case Trump is elected.
Gold /GC closed even at 1277 after correcting to 1200 level, 7 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 0.9822, 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, 8 out of 9 stochastics up, rates hike finally on the horizon. 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. 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 is learning to soften his militant style , i.e becoming a politician, the question is will he also become a liar as everyone else within the DC boundary. Will this at the end turn out to be a capitulation to the Establishment and continuation of the outrages of the last eight years remains to be seen. Check "In the Tracks of the Cobra" for a further look at possible scenarios in case Trump is elected.
Gold /GC closed even at 1277 after correcting to 1200 level, 7 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 0.9822, 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, 8 out of 9 stochastics up, rates hike finally on the horizon. 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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