Market Report 6/16/16/, cover short trailing stop 17800, CG(5820), 11/20/15
USD/CHF reversed to 0.9647, 5 out 9 USD/CHF stochastics down leading to gold dropping to1283, backing of from upward resistance. $DJI market knocking down on ever lower support levels, the break will come probably on a downward gap, should the Brexit materialize or a spectacular news that Obama and Hillary have been all along IS undercover agents surface, as Trump has been implying in his latest attacks.
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 flat, market tested the 17500 level, then bounced back to 17733, capped by cover short trailing stop at 17800. 6 out of 9 stochastics are down, a fresh daily downtrend signal may lead to further weakness. US is facing a Constitutional crisis and uncertainty, hence drop below 17600 will test support at 17128, with next stop at 15,500 and breakdown to 12830 mid-point since 2008. Consult Sorbane's "Ziban Must Die" for further chilling details.
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 dropped on dollars reversal to 1302, right at the resistance level, 6 out of 9 short term stochastics are up, a break above 1350 now ahead, resistance 1352, support 1168, long term support at 1045. The strenght of the metals is a clear indication that fear is creeping in the hearts of investors and Obama rats are jumping overboard to safety. USD/CHF is down to 0.9647, 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, 7 out of 9 stochastics down, yuan uptick may force rates hike finally on the horizon, even from Yellen but not for sure until Hillary is or if 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 flat, market tested the 17500 level, then bounced back to 17733, capped by cover short trailing stop at 17800. 6 out of 9 stochastics are down, a fresh daily downtrend signal may lead to further weakness. US is facing a Constitutional crisis and uncertainty, hence drop below 17600 will test support at 17128, with next stop at 15,500 and breakdown to 12830 mid-point since 2008. Consult Sorbane's "Ziban Must Die" for further chilling details.
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 dropped on dollars reversal to 1302, right at the resistance level, 6 out of 9 short term stochastics are up, a break above 1350 now ahead, resistance 1352, support 1168, long term support at 1045. The strenght of the metals is a clear indication that fear is creeping in the hearts of investors and Obama rats are jumping overboard to safety. USD/CHF is down to 0.9647, 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, 7 out of 9 stochastics down, yuan uptick may force rates hike finally on the horizon, even from Yellen but not for sure until Hillary is or if 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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