Gold Gives Up the Ghost  (GLD)

Model Portfolios: Gold = Bullish  6/04, S&P 500= flat 6/09, VIX= waiting for new entry.

Nonlinear Trading Themes:

  • CTM150707gGold: Gold dropped below near-term support at approximately the 112 -112.50 (GLD basis) level. Nonlinear trading signals had anticipated the support to hold here. continues to press lower, possibly hunting for stops below the June 5th Now what? GLD did pick up some buy intraday and managed to close near the high of the trading range. Additionally the yellow metal is now fairly oversold. Making a move now is probably not a good idea. The model Gold portfolio is still long.
  • CTM150707sS&P 500: The line (loosely) goes ‘much sound and fury, signifying nothing.’ The S&P dive on the 29th and the muscular turn around today puts the blue-chip index at approximately the same level as our last go-to-flat signal on June 9th. VIX readings suggest the next major move will be up (or flat) but I cannot get nonlinear signal confirmation of that for the stock index itself. The S&P 500 model is still flat.
  • $VIX (S&P volatility): The preproduction VIX signaled a short (bullish for stocks) as a result of June 29th The recent volatility in equities is not sending the mathematical index to new highs. I am waiting for a new (real-time) signal to start posting a chart on this.

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  © 2015, “Nonlinear signals that matter in gold trading.”