Model Notes: The S&P issued the buy on 3/08, the theoretical signal price (TSP) came in at 1989.26. Today’s trading started off weak, but buyers came in at the end of the day to settle the score at near unchanged. On the gold side market traders were treated to two volatile days, 3/09 was down and 3/10 was up. Mummy watchers are flat so we are not getting beat up by the yellow metal. Waiting and watching.
March Rotations: Core Gold, Featured: S&P 500.
Model Portfolio Signals: GLD flat, 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:
- Gold (Mar. core market) Gold punched south, then north the last several trading days. We are flat and safe waiting for some type of significant trend to resume. GLD resistance still seems to be at 122.
- S&P 500 (Mar. feature): The S&P 500 started the day off getting hit but there was not enough sellers to sustain the weakness as buyers came in the second half of the day. A close above 2010 wll signal a breakout and this is the most likely result going forward.
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 ConquertheMummy.com © 2015-2016, “Nonlinear signals that matter in gold (and wheat) trading.”