Market Report 7/28/16, sell short stop 18300, CG(6245),11/20/15, Still water: Danger Ahead
The market just made a sell top three days ago and stochastics and relative strength are falling, a bad omen in addition of the polls showing Trump ahead by as much as 5 points in some states. Will the market shiver finally and break 18283 on high volume?
Critical support level now at 17026.
Due to the extreme valuations and technical crosscurrents, we are recommending caution until the air is clear as to how Trumps and Hillary nominations will influence the National polls.
$DJI nearly year of declining tops in force since last December, stochastics weakening, support at 17678,16332,15200. On the medium range charts the markets are making new lower lows while tops are disguising the underlining downtrend, Yellen still printing money to support Hillary, but for how long is not clear.
USD/CHF fell again to 0.9784, indicating Yellen's suppressing rates a bit by shorting gold and printing dollars at the same time. 5 out 9 USD/CHF stochastics up, resistance 1.3843, gold broke resistance and closed at 1337.1, 4 out of 9 stochastics up, resistance 1500. DJI futures -26, the market lost 16 points after bounce of the lows of the session, and near new high. 6 out of 9 stochastics are up in the Hillary's victory rally which seem to run out of gas after polls show people being distrustful of her. The stochastics following long market trends indicate that this is a false market move on very low volume, hence we must wait for technicals to improve in near future.
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 decision.
Critical support level now at 17026.
Due to the extreme valuations and technical crosscurrents, we are recommending caution until the air is clear as to how Trumps and Hillary nominations will influence the National polls.
$DJI nearly year of declining tops in force since last December, stochastics weakening, support at 17678,16332,15200. On the medium range charts the markets are making new lower lows while tops are disguising the underlining downtrend, Yellen still printing money to support Hillary, but for how long is not clear.
USD/CHF fell again to 0.9784, indicating Yellen's suppressing rates a bit by shorting gold and printing dollars at the same time. 5 out 9 USD/CHF stochastics up, resistance 1.3843, gold broke resistance and closed at 1337.1, 4 out of 9 stochastics up, resistance 1500. DJI futures -26, the market lost 16 points after bounce of the lows of the session, and near new high. 6 out of 9 stochastics are up in the Hillary's victory rally which seem to run out of gas after polls show people being distrustful of her. The stochastics following long market trends indicate that this is a false market move on very low volume, hence we must wait for technicals to improve in near future.
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 decision.
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