Gold model gains clarity, buys! (GLD)

Model Notes: Our gold model was not as eager to enter a trade as the stock model. Well, no more. The yellow metal portfolio is now on a buy with the TSP to follow soon. Gold has featured several 1-2 day high volatility moves with limited follow through. We are expecting more upside directionality. The SPX model call looks better and better. So far, so good.

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

Model Portfolio Signals: GLD buy 3/17 (TSP=waiting), S&P 500 buy on 3/08 (TSP= 1989.26)

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:

  • CTM160317gGold (Mar. core market) recent gold trading featured a market wildly punching without a lot of sustained directionality. We now think the bears have the losing hand and expect more positive price action. We look for a breakout above the local resistance of 122 (GLD basis). Gold model is now on a buy.
  • CTM160317sS&P 500 (Mar. feature): The S&P 500 continues to climb, supporting our bullish call. The stock model is still positive.

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.”