Market Report 6/29/16, stop 17550, CG(6245),11/20/15,
USD/CHF fell to 0.9794 due to Yellen's intervention, 5 out 9 USD/CHF stochastics up, gold lost some ground to 1319. $DJI market knocking down on ever lower support levels, now bounced of 200 day moving average at critical 17168 level in support of the thesis that US markets are immune to the volatility of the world, next crucial levels are 16800 and 15368. Futures are at +30, reflex rally chased the shorts, market up to 17694 against the 50 day moving average, triggering cover short stop at 17500 for a profit of 400 Dow points. Long term trends are still negative, rally due to short covering in short term stochastics cycles. If market closes below 17168 at the end of the month, a long term sell will be issued which if confirmed by weekly stochastics will tilt technicals into a bear market mode. This will complete the massive top that Yellen has been knitting for months, 5 out of 9 short term stochastics are up indicating oversold condition, predicted bounce led by short covering lifted $DJI another +200 points, charts are tilted down and there is more action on the down side, the market to test the 17168 level soon.
The inertia of long term stochastics will probably drag the market further down, despite of Obama joining Hillary campaign to defeat Trump, after Brexit a sure sign of failure. The matter of fact is that the GOP has joined the Dem's and Unified Party USA, turning the country into one party system, almost certainly to face a Constitutional crisis and uncertainty, hence drop below 17000 will test support at 16226, with next stop at 15,500 and breakdown to 12830 mid-point since 2008.
Completely oblivious to the struggles of the world, another batch of GOP conspirators are still dreaming of pushing one of their losers in place of Trump, disregarding the voice of the people. Translation? Read "Ziban Must Die" for further clues as to where this madness may lead the USA.
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, which may be nullified if we get a fresh monthly sell in few days. A breach of the top formation of the upper corner of the declining tops triangle resistance bounded above by the 17803 and below by 17,504,16,800, 15,370,and 12081 mean support bands is still possible, but in doubt.
Gold /GC bounced around the 1300 level after Brexit loss and on the dollars reversal, right above the resistance level, 5 out of 9 long term term stochastics are up, a break above 1350 is now ahead, resistance 1352, support 1168, long term support at 1045. The USD/CHF is down to 0.9794, a reversal and bad correlation with gold, higher interest rates shelved again by Yellen, and again ,..., a break below 0.9807 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 down.
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.
The inertia of long term stochastics will probably drag the market further down, despite of Obama joining Hillary campaign to defeat Trump, after Brexit a sure sign of failure. The matter of fact is that the GOP has joined the Dem's and Unified Party USA, turning the country into one party system, almost certainly to face a Constitutional crisis and uncertainty, hence drop below 17000 will test support at 16226, with next stop at 15,500 and breakdown to 12830 mid-point since 2008.
Completely oblivious to the struggles of the world, another batch of GOP conspirators are still dreaming of pushing one of their losers in place of Trump, disregarding the voice of the people. Translation? Read "Ziban Must Die" for further clues as to where this madness may lead the USA.
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, which may be nullified if we get a fresh monthly sell in few days. A breach of the top formation of the upper corner of the declining tops triangle resistance bounded above by the 17803 and below by 17,504,16,800, 15,370,and 12081 mean support bands is still possible, but in doubt.
Gold /GC bounced around the 1300 level after Brexit loss and on the dollars reversal, right above the resistance level, 5 out of 9 long term term stochastics are up, a break above 1350 is now ahead, resistance 1352, support 1168, long term support at 1045. The USD/CHF is down to 0.9794, a reversal and bad correlation with gold, higher interest rates shelved again by Yellen, and again ,..., a break below 0.9807 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 down.
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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