Model Gold Portfolios: Gold = Long 5/19, S&P 500 awaiting signal, VIX designing model.
Technical Read:
Gold: Gold tested and bounced off the 113 (GLD basis) support level on Thursday (which is bullish) but Friday’s follow through was anemic. Using the age old up-trend definition (higher highs and higher lows), we are still in the zone. This week should give us more buying off the established trading support level. The model Gold portfolio is still long.- S&P 500: The next trading day is in June. I am still waiting for a signal. Largecaps are rangebound.
- $VIX (S&P volatility): I want to get the S&P signal going (public out of sample testing) and then see how VIX reacts. The train is stalled for now waiting for a S&P signal. Projection is to start posting this in late-June.
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.
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GH Garrett – Veteran Commodity Watcher for ConquertheMummy.com ©, “Nonlinear signals that matter in gold trading.”