Wild Ride, Back above 114.50 (GLD)

Model Gold Portfolios: Gold = Long 4/17, S&P 500 = Short 4/21

Technical Read:

  • CTM150423Gold: Sellers pushed gold down on 4/22 but today (23rd) the market had a sizable rebound (back above 114.50, GLD basis). This week’s economic news featured an estimate of Chinese economic activity in April. China is a bulwark of growth against global deflationary pressures. So, economist beware. Nonlinear trading analysis is still supportive of higher prices in the yellow metal, but with less conviction. The model gold portfolio is long.
  • CTM150423sS&P 500: The S&P 500 has pushed high the last couple of days but closed only a meager 3pts above resistance at the 2110 level. The Nasdaq Composite posted a closing high (15 years) today. So we will have to see if prices retreat from here. Nonlinear trading analysis has us on the short side.

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 the bond trading signals. Currently available.

GH Garrett – Veteran Commodity Watcher for Conquer the Mummy .com “Nonlinear signals that matter in gold trading.”