Market Report 9/27/16,CG(7115),11/20/15
Market rose on supposed Hillary win of the debate to 18228, led by Microsoft, triggering cover short stop at 18,200, gain(50). 20,000+ rally attempt is of, support 18,085,17,565, 16361,12128,resistance at 18,250. We covered short DIA at 18200 level for a gain of (50).
Trump is finished: Social Media said so
Gold closed down at 1330.5 on weak dollar, 5 out of 9 stochastic up, the USD/CHF rose to 0.9707 with 6 out 9 stochastics up. The stocks fluctuated between 18050 and 18250 the whole day and closed up 133 points to 18228, futures are pointing down -15.
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 17678,16361,12128. 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.
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 17678,16361,12128. 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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