The Dow for the Close of May 20, 2016

We need to watch gold as well. If gold exceeds last year’s high of 1307.80, the likelihood of a sustained breakout beyond 1360 is not very good with a strong dollar. However, such a move would confirm an extension of this entire mess and any reversal where there is a sudden crisis in confidence in government within the main segment of the population would probably come in 2017. This makes sense from the perspective of 2017 being the year from political hell. It also would not rule out the ultimate swing for gold to crash to new lows, which would really twist minds with rising rates and the dollar.

The Dow for the Close of May 20, 2016