Market Report 11/28/16,sell stop 18850, CG(00),11/21/16
The Trump victory rally took a break to close at 19098, down 54 and above the upper band of the declining resistance trend in force since last December. Raising with same rate of climb will see DJI in the low 24,000 within a month, hardly supporting the rumor of the immediate demise of Donald Trump.
Gold down slightly to 1193.1 as US dollar down to USD/CHF 1.01165, a contradiction, DJI futures are currently down -1.
Trump is on course to ignore and offend his core supporters by selecting one of most hated men in America for the position of Secretary of State, namely Mitt "Trump is fraud" Romney, the same man who led the infamous "Dump Trump" campaign during the primaries. A couple of more arrogant moves like that and Trump's honeymoon with the Republican base will be over, himself joining Ryan, McConnell and Romney as the most hated GOP Establishment politicians, which combined with hatred Dem's are already feeling for him does not bode well for his Presidency.
The markets have not fully priced the contradictions in Trump's substitutes for current international trade agreements, and continue to move higher in sync with interest rates, which is a deadly contradiction. In addition, new Fed Governors and new Fed chair will be appointed in the next 18 months, a move that could have monumental impact on the markets.
Our long position is continuing to muddle through the news with a gain of 750 Dow points so far, with a distant stop at 18850. Last year's return on our DIA based portfolio was 6995 points or 36%.
Gold down slightly to 1193.1 as US dollar down to USD/CHF 1.01165, a contradiction, DJI futures are currently down -1.
Trump is on course to ignore and offend his core supporters by selecting one of most hated men in America for the position of Secretary of State, namely Mitt "Trump is fraud" Romney, the same man who led the infamous "Dump Trump" campaign during the primaries. A couple of more arrogant moves like that and Trump's honeymoon with the Republican base will be over, himself joining Ryan, McConnell and Romney as the most hated GOP Establishment politicians, which combined with hatred Dem's are already feeling for him does not bode well for his Presidency.
The markets have not fully priced the contradictions in Trump's substitutes for current international trade agreements, and continue to move higher in sync with interest rates, which is a deadly contradiction. In addition, new Fed Governors and new Fed chair will be appointed in the next 18 months, a move that could have monumental impact on the markets.
Our long position is continuing to muddle through the news with a gain of 750 Dow points so far, with a distant stop at 18850. Last year's return on our DIA based portfolio was 6995 points or 36%.
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