Model Gold Portfolios: Gold = Bullish 6/04, S&P 500 – Bearish 6/01, VIX designing model.
Technical Read:
Gold: Gold fell through the 113.50 (GLD basis) support level but not decisively. However, nonlinear trading analysis is interpreting the price action as the market is now significantly oversold. We are issuing a bullish signal based on today’s trading. The model Gold portfolio is now bullish
S&P 500: The June 1st sell is doing well. The S&P 500 dropped through its recent trading range. Unlike gold, nonlinear trading analysis is not indicating it is oversold. Price target is approximately 2070 (low of the month of May). The S&P 500 model remains bearish.- $VIX (S&P volatility): VIX model designing work continues. Preproduction model issued a buy on May 27th and the opinion persists. Expectations of higher volatility numbers are a warning of lower stock prices to come.
Note: Technical comments are based on interpretations of non-linear trading models, combined with chart price action.
Premium offers:
- Bond Trading Signals. I am offering a similar Mummy process for Treasuries. See the “Bond Trading Signals” tab for more info. Currently available.
- Currency Trading Signals. I am now offering a similar Mummy process for currencies. This service will involve two signal paths, one on the US dollar and the other on a user selected second currency (1+1).The fee will be the same as
GH Garrett – Veteran Commodity Watcher for ConquertheMummy.com ©, “Nonlinear signals that matter in gold trading.”