Who let the Greeks Out?  (GLD, SPX)

Model Gold Portfolios: Gold = Bullish  6/04, S&P 500= flat 6/09, VIX= designing model.

Nonlinear Trading Themes:

  • CTM150629gGold: The surprise call for a Greek referendum to (in a de facto way) settle the matter of the Greek-Euro question absolutely staggered the markets on Monday. Gold reacted positively but not enough. We expect to see further advances. Our last signal was bullish and the current price levels are not overbought. The model Gold portfolio is still bullish.
  • CTM150629sS&P 500: Whereas gold did not react enough, large-caps probably reacted too much. The 43 pt loss in the S&P 500 drubbing has put this index in oversold territory. US equities may come to be a type of safe-haven depending on European volatility. The S&P 500 model is still flat.
  • $VIX (S&P volatility): The pre-production VIX trading model bounced quite a bit in recent days. Currently, this index is way overbought. Again the read is generally opposite the S&P 500 itself.

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 the Bond trading signals.

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