Simply Murder (Wed Gold Move) (GLD)

Model Notes: This is the last chart for the US dollar (Sept featured market). I will post a post-mortem shortly under the “Forex Trading’ tab. This was a positive round for nonlinear trading analysis and the CTM website.  The gold market failed to hold support this week. This is a concern as the models have this market as oversold. Still the TSP for the long trade is lower than today’s close (meaning the position is positive).

Featured market rotation: US Dollar for September (nearing the end) and Bonds for October. Japanese yen for November. Brazilian real for December. Gold is currently non-rotational.

Model Portfolio Signals: (Gold) Buy = 9/08 (TSP=106.13), (USD) Buy = 9/17 (TSP=95.00), (Bonds/TLO) Sell =9/24 (TSP= 70.50)

Nonlinear Trading Themes:

  • CTM151001gGold: GLD pierced the 107.50 support level this week (Wed) but on the plus side, Thursday’s action did not exhibit much follow-through. Nonlinear readings are still on the oversold side of the issue. Friday may prove to be a setup for a bounce. The model gold portfolio is still long.
  • CTM151001uUS Dollar (Sept Featured Market): Waiving goodbye to the greenback (for now)!
  • CTM151001bBonds (Oct Featured Market): The sell signal on 9/24 wasn’t bad but the TSP (70.50) is going to be an albatross. The market is pressing the signal. The market is trying to gauge if the Fed is going to act or not.  Yellan seemed to indicate a tightening this year, but who knows if the Fed can do it if the pointy-head economists from Europe start to criticize. The volatility of equities is keeping the bond sellers off balance. Anyway, we will see if 72 on the TLO is resistance point. The model bond portfolio remains bearish.

Note: Technical analysis comments are based on interpretations of non-linear trading models, combined with chart price action.

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GH Garrett – Veteran Market Watcher for ConquertheMummy.com  © 2015, “Nonlinear signals that matter in gold trading.”

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