Four trading days in and waiting (GLD, SPX)

Model Notes: The markets we are following for March are both at the top end of the monthly range (stocks maybe a little stronger, but a little more overbought). I am waiting for some reconfirmation signal to initiate the positions for the new month.

March Rotations: Core Gold, Featured: S&P 500.

Model Portfolio Signals: GLD flat, S&P 500 flat

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:

  • CTM160304gGold (Mar core market) Gold tried to breakout of its monthly range on Friday, but ended up reversing as stocks held up well. 122 may be near-term resistance (GLD basis). Gold model is flat.
  • CTM160304sS&P 500 (Mar feature): Stocks are holding up well but buying after a 4-day advance may not be a good trading move. A new week is coming. S&P 500 is flat.

Note: Non linear trading theme comments are based on interpretations of non-linear trading models, combined with chart price action (technical analysis).

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GH Garrett – Veteran Market Watcher for  © 2015-2016, “Nonlinear signals that matter in gold (and wheat)  trading.”