Stock Market Report 8/30/16, sell short stop 18300, CG(6245),11/20/15
Hillary victory rally on, Target +20,000
Trump is finished: Politico said so
Gold down to 1315, stochastics have weakened to 3 out of 9 up. The dollar rallied to 0.9837 with only 4 out 9 stochastics up , helped by Yellen's remarks of possible rate hike.
The sell short stop of 18300 and critical 18208 levels on low volume are still relevant. Stocks briefly tested the 18550 level, then lost 49 points. Futures are at -2 after a new daily signal flashed days ago.
Important support level is now at 17515. Market has not been in such a narrow range in nearly 20 years,
Due to the extreme valuations and technical crosscurrents, we are recommending caution until the air is clear as to how Trump & Hillary nominations will influence the National polls. Market data shows the degree of option model prices distortions that makes it very difficult for traders to make a living.
$DJI is in nearly a 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
The sell short stop of 18300 and critical 18208 levels on low volume are still relevant. Stocks briefly tested the 18550 level, then lost 49 points. Futures are at -2 after a new daily signal flashed days ago.
Important support level is now at 17515. Market has not been in such a narrow range in nearly 20 years,
Due to the extreme valuations and technical crosscurrents, we are recommending caution until the air is clear as to how Trump & Hillary nominations will influence the National polls. Market data shows the degree of option model prices distortions that makes it very difficult for traders to make a living.
$DJI is in nearly a 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
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