Market report 6/14/16, cover short trailing stop order at 17800, CG(5870),12/20/15
USD/CHF advanced from 0.9611 to 0.9639. Most USD/CHF trends are down, leading to firming of gold to 1288.
Idle time is evil time old timers used to say, markets threading water, hedge yourself, VIX sharp advance is a sign of coming turbulence. DJI Futures +15, market tested the 17600 level, then backed of to17674 for a loss of 58 points, cover short trailing stop at 17800. 3 out of 9 stochastics are down, a fresh daily downtrend signal may lead to further weakness due to loss of confidence in Hillary and Obama after bashing by Trump. Still the Unified Party USA is not finished with Trump as indicated by market support points where Yellen is pumping money in the system to defend the official line of never giving up an inch until a loss forces her to use scorched earth tactics and slam the crash in Trump's lap. Drop below 17600 to test support at 17128, next stop 15,500 and breakdown to 12830 mid-point since 2008.
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.
Gold /GC exploded on dollars reversal to 1288, right at the resistance level, 6 out of 9 short term stochastics are up, a break above 1300 now in doubt, resistance 1352, support 1168, long term support at 1045. USD/CHF is up to 0.9639, a reversal and good correlation with gold, higher interest rates shelved again byYellen, and again ,..., a break below 0.9432 will lead to a drop at 0.7, a crash, USD/CHF in a long term decline, a bear market rally last four months now topping out, 5 out of 9 stochastics up, rates hike may finally on the horizon, even from Yellen but not for sure until Hillary is elected. Watch the cover short stop at 17800. 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.
Idle time is evil time old timers used to say, markets threading water, hedge yourself, VIX sharp advance is a sign of coming turbulence. DJI Futures +15, market tested the 17600 level, then backed of to17674 for a loss of 58 points, cover short trailing stop at 17800. 3 out of 9 stochastics are down, a fresh daily downtrend signal may lead to further weakness due to loss of confidence in Hillary and Obama after bashing by Trump. Still the Unified Party USA is not finished with Trump as indicated by market support points where Yellen is pumping money in the system to defend the official line of never giving up an inch until a loss forces her to use scorched earth tactics and slam the crash in Trump's lap. Drop below 17600 to test support at 17128, next stop 15,500 and breakdown to 12830 mid-point since 2008.
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.
Gold /GC exploded on dollars reversal to 1288, right at the resistance level, 6 out of 9 short term stochastics are up, a break above 1300 now in doubt, resistance 1352, support 1168, long term support at 1045. USD/CHF is up to 0.9639, a reversal and good correlation with gold, higher interest rates shelved again byYellen, and again ,..., a break below 0.9432 will lead to a drop at 0.7, a crash, USD/CHF in a long term decline, a bear market rally last four months now topping out, 5 out of 9 stochastics up, rates hike may finally on the horizon, even from Yellen but not for sure until Hillary is elected. Watch the cover short stop at 17800. 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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