GLD/Gold and other similar commodities

As mostly of us know a lot of commodities like Gold or Silver are following the US Equity Markets. Fundamentally it shouldn`t follow them, but thats another topic. Gold and Silver are performing today but if we take a look to the 15 minutes chart we see there are a lot resistances in the upcoming "trend". So, same as the Equity Markets i also dont see strong positive indicators. But there are a few more visible.. That would be perfect for scalping but for long-term investment we should wait a bit more and let it ride out.

By the way; check the comparisons between DJIA, SPX and XGLD to GLD

SPY

Market heads more down. As i see there are a lot of people already bullish. But i dont see any important bullish indicator for the Equity Markets. After leaving a downtrend we`re again in this downtrend how i expected it.

The moment when it turns should show a stronger indicator.

SPY some new lows

I`ve set 1400 as an important mark in the SPX. Now we`re almost there and i think we will hit this mark, for sure!

Well im today also bearish on the markets and thats why im short. I use just a simple inverted Fibo Fan and some trendlines. Additionally some comparisons and other small indicators. And of course.. the market behavioral rules. The market wont be able to turn until Wednesday (Politics), if we dont get a flashy low..

What means a flashy low for me. I want to see a hammer and a trendturn-indicator.. If i dont get it i may go again short on monday.. But i dont stay short over the weekend..to risky!

My target for today is a bit lower than 140.00

SPX

Lets take a look on the S&P 500 Index

The indicator for lower levels is strong. We will revisit 1`400  for sure!

Have a nice day and let it play out, if youre bullish!

SPY

Closed that deal in this area last time.. just btw!

SPY

I closed my shortposition last friday with a nice profit. This turnover looks higher..
My next target is 156.55..

pre-market is doing well for the moment and maybe we will have a small rally this week. 

SPY

Following a simple trendline since yesterday.. Btw, the market is just aa biit oversold.. Thats why i close ALL my short positions today!

GLD/GOLD

Gold has been pressed down with some global fears or a stronger dollar. But as we know, the value of the dollar should decrease.. In that consideration, there`s also one profiteur from this weak currency - Gold!

For now, i have one trendline which i bet on.. I trade on this line and this green trendline seems to be one stronger than others.. Gold has been oversold, so i think its the best opportunity to buy Gold or GLD in this moment.

I have to laugh, when i hear that Gold will fall and i always try to explict that there is nothing to get scared about Gold.. Its just a movement by the market makers like JP, MS or another Fund Manager.

So i dont get scared and i stay long on Gold.. The red area means a oversold area for me..

Btw, Gold has been outperforming the US-Indexes yesterday.. The reason for that were some actions by SPDR

GLD

Finally.. after hanging in this sidewaytrend it has reached the breakout level. And here we are.. Gold breaks out for another round¨!

GOLD (GLD)

Gold looks very bullish at the moment and i wont sell it for the next days. I was flat last week on Gold and sometimes with a loss of  3850 USD. I knew its always a bit tricky to trade Gold, because some Fund Managers are pulling the GLD down sometimes, to add it at lower prices.

Ok lets take another look. At the first sight it doesnt look special and there`s no much performance into it. But just compare the highs from days before and you`ll see there are higher highs and we had the second buy-up spike which indicates a strong bullish engulfing!

I expect we`re going to hit the next important retracement and then we will receive our strongest bullish sign on Commodities which moves similar to Gold.

As you see, we`re moving along a trendline (yellow ones) and every Fibo Retracement gets tested out.

By the way, Commodities should be the best profiteurs from the QE 3 program..