May Rotations: Core= wheat, Featured= US dollar
Signals: wheat Long 5/19 (TSP=467.25), US dollar buy 5/11 (TSP= 94.13)
Model Notes: The buy on wheat came in at 467.25 (TSP), near todays’ close and above the 455 support area. A pretty good start. The US dollar is still moving up, leaving our buy signal behind (in a profitable way!). The models seem in sync with their respective markets.
Note: TSP is calculated by using the closing price of the trading day after the signal day. It is more realistic for trading calculations/evaluations.
Nonlinear Trading Themes:
- Wheat Trading Signals (May core market) The buy signal is in pretty good shape from a technical read standpoint. The market is holding above near-term support (455) and the downside momentum is waning. We are looking for reversal to the upside.
- US Dollar Trading Signals (May feature): The greenback is still drifting up. It appears the 95 resistance level has been pierced. The buzz about rate hike in June is not going to embolden dollar bears. The dollar model is positive.
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Take a minute to peruse the US Equities tab. I posted the S&P 500 trading signals postmortem for the recent March-April time period (approx. as it took about a week to generate a signal at the beginning). Plus 134 Points. Great stuff!
GH Garrett – Chief market analyst for ConquertheMummy.com © 2015-2016, “Nonlinear signals that matter in gold (and wheat) trading.”