For Friday, May 31st

The June SP Futures

The main model is currently long from 1586.60...

For Friday, a close below 1643.80 would confirm a new main model sell signal...

The NT indicator is very overbought yet is still pointing higher...

MAJOR - - 1712.50 and must close above that price on Thursday, July 4th or a new main model sell signal would automatically be confirmed...

minor - - 1689.10

MAJOR - - 1673.40 and must close above that price on Thursday, June 6th or a new main model sell signal would automatically be confirmed...

minor - - 1661.00 (already reached)

MAJOR - - 1623.90 and must close above that price on Friday, May 31st for the rally to resume or a new main model sell signal would automatically be confirmed... (expires tomorrow)

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

We had a rejected buy signal today, but I suspect this market will try again...

For Friday, in the June gold futures, a close above 1417.50 would confirm a new main model buy signal...

I'll most likely roll into the August gold futures contract on Monday, but for tomorrow, I would go with the price for June...

The following gold VPs remain below the market:

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal (soon to expire)

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

As for now, the model remains officially short gold...

The email SUGGESTION BOX is always open and invites your ideas for improving and enhancing your email service, many thanks...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Thursday, May 30th

The June SP Futures

The main model is currently long from 1586.60...

We had a rejected sell signal today, this is typically bullish, but still be careful...

For Thursday, a close below 1640.80 would confirm a new main model sell signal...

The NT indicator is further overbought and still pointing higher...

MAJOR - - 1712.50 and must close above that price on Thursday, July 4th or a new main model sell signal would automatically be confirmed...

minor - - 1689.10

MAJOR - - 1673.40 and must close above that price on Thursday, June 6th or a new main model sell signal would automatically be confirmed...

minor - - 1661.00 (already reached)

MAJOR - - 1623.90 and must close above that price on Friday, May 31st for the rally to resume or a new main model sell signal would automatically be confirmed...

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

For Thursday, in the June gold futures, a close above 1414.20 (same price as usual) would confirm a new main model buy signal...

The following gold VPs remain below the market:

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal (soon to expire)

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

As for now, the model remains officially short gold...

The email SUGGESTION BOX is always open and invites your ideas for improving and enhancing your email service, many thanks...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Wednesday, May 29th

The June SP Futures

The main model is currently long from 1586.60... the market closed today at 1657.30 after making a higher of 1672.50 earlier this morning, just .90 points below the new major VP of 1673.40...

For Wednesday, a close below 1638.70 would confirm a new main model sell signal...

The NT indicator is overbought but now again pointing higher...

MAJOR - - 1712.50 and must close above that price on Thursday, July 4th or a new main model sell signal would automatically be confirmed...

minor - - 1689.10

MAJOR - - 1673.40 (almost reached today) and must close above that price on Thursday, June 6th or a new main model sell signal would automatically be confirmed...

minor - - 1661.00 (already reached)

MAJOR - - 1623.90 and must close above that price on Friday, May 31st for the rally to resume or a new main model sell signal would automatically be confirmed...

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

For Wednesday, in the June gold futures, a close above 1414.20 (same price as usual) would confirm a new main model buy signal...

The following gold VPs remain below the market:

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal (soon to expire)

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

As for now, the model remains officially short gold...

The email SUGGESTION BOX is always open and invites your ideas for improving and enhancing your email service, many thanks...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Tuesday, May 28

The June SP Futures

Thank you for your questions and suggestions, I appreciate them, they will help to enhance and deliver a better email service for you...

The main model is currently long from 1586.60...

THE MARKETS ARE CLOSED ON MONDAY FOR MEMORIAL DAY...

As of Friday's successful retest of the rejected sell signal vicinity, additional VPs have been created and the nearest pending major VP has been revised upward and sent forward in time...

For Tuesday, a close below 1636.70 would confirm a new main model sell signal...

The NT indicator is approaching oversold territory, but no buy spike...

The newly revised and currently active upside VP list is now as follows (expired major VPs have been and will be removed as they expire):

MAJOR - - 1712.50 and must close above that price on Thursday, July 4th (the markets are closed on July 4th, but the model is specifying that specific day and date right now) or a new main model sell signal would automatically be confirmed...

minor - - 1689.10

REVISED - - MAJOR - - 1673.40 and must close above that price on Thursday, June 6th or a new main model sell signal would automatically be confirmed...  (as of Friday's close, this VP is being revised upward from 1667.50 and forward in time from Tuesday, May 28th)

NEW - - minor - - 1661.00  (this price has already been reached previously, but not since this new minor VP has emerged)

REVISED - - MAJOR - - 1623.90 (revised as of Friday from 1623.10) and must close above that price on Friday, May 31st (revised from Thursday, May30th) for the rally to resume or a new main model sell signal would automatically be confirmed...  (either way, this VP may likely expire)

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

I took a long position in the gold market early this morning in great anticipation of the completion of the beautiful 5 day buy wiggle pattern...  BUT, it didn't happen, so I dumped that long gold position and will wait for the main model signal itself...

For Tuesday, in the June gold futures, a close above 1414.20 (same price as usual) would confirm a new main model buy signal...

The following gold VPs remain below the market:

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal (soon to expire)

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

As for now, the model remains officially short gold...

The email SUGGESTION BOX is always open and invites your ideas for improving and enhancing your email service, many thanks...

NOTICE:  I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Friday, May 24th

The June SP Futures

The main model is currently long from 1586.60...

Today, we had a sell signal triggered, but the signal was rejected on the close... therefore, the model remains long... just for your information, a rejected sell signal is typically bullish... the reverse is true for rejected buy signals...

For Friday, a close below 1632.10 would confirm a new main model sell signal... today's low was 1632.70... as you may have noticed, the market today seemed to hover above and below the sell signal price much of the day, this is very typical since these sell and buy signal prices are truly genuine and invisible key price points to this market and cannot be found on any chart as trend or resistance lines... the same thing for the VP prices...

A new minor and new major overhead VP have been created today, they're listed below in bold...

The NT indicator is already beginning to approach oversold territory...

The upside VP list is as follows:

(new) MAJOR - - 1712.50 and must close above that price on Thursday, July 4th (I know the markets are closed on July 4th, but the model is specifying that specific day and date right now) or a new main model sell signal would automatically be confirmed...

(new) minor - - 1689.10

MAJOR - - 1667.50 and must close above that price on Tuesday, May 28th or a new main model sell signal would automatically be confirmed...

MAJOR - - 1638.90 and must close above that price on Tuesday, May 21st for this rally to continue or a new main model sell signal would automatically be confirmed...

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed...

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

The gold market is forming an interesting and somewhat rare yet reliable chart pattern... a close tomorrow in the June gold futures contract above 1397.90 would complete a 5 day buy wiggle pattern, that would be an aggressive buy signal based on a complex five day chart pattern, this pattern, if completed, is extremely bullish... this is NOT a main model buy signal, but I will take that buy signal for myself...

For Friday, in the June gold futures, a close above 1414.20 (same price as yesterday) would confirm a new main model buy signal...

The following gold VPs remain below the market:

MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains officially short gold...

The email SUGGESTION BOX is always open and invites your ideas for improving and enhancing your email service, many thanks...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Thursday, May 23rd

The June SP Futures

The main model is currently long from 1586.60...

For Thursday, a close below 1648.50 would confirm a new main model sell signal... today's low was 1647.00... is there any coincidence that the market stopped selling off with 1/2 point of the sell price of 1646.50? I don't think so, the main model knew exactly where the selling would have to stop without changing the direction of the trend itself... this is very typical that the market teeters around the sell price before continuing or moving away from it...

The major VP at 1667.50 has stopped the rally now for three consecutive days, and today it really slammed the price downward within whispering distance of a new main model sell signal...

The NT indicator sell spike has evaporated today, but based on the numbers I have, this market has to be extremely bullish tomorrow for another sell spike not to appear...

The upside VP list is as follows:

MAJOR - - 1667.50 and must close above that price on Tuesday, May 28th or a new main model sell signal would automatically be confirmed...

MAJOR - - 1638.90 and must close above that price on Tuesday, May 21st for this rally to continue or a new main model sell signal would automatically be confirmed...

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

The gold market put in a beautiful reversal pattern today, but was slammed down again today...

For Wednesday, in the June gold futures, a close above 1414.20 (much closer to the market now) would confirm a new main model buy signal...

The following gold VPs remain below the market:

MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains officially short gold...

The email SUGGESTION BOX is always open and invites your ideas for improving and enhancing your email service, many thanks...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Wednesday, May 22nd

The June SP Futures
The main model is currently long from 1586.60...

For Wednesday, a close below 1646.20 would confirm a new main model sell signal...

The major VP at 1667.50 has stopped the rally now for two consecutive days...

The NT indicator has completed another sell spike today...

The upside VP list is as follows:

MAJOR - - 1667.50 and must close above that price on Tuesday, May 28th or a new main model sell signal would automatically be confirmed...

MAJOR - - 1638.90 and must close above that price on Tuesday, May 21st for this rally to continue or a new main model sell signal would automatically be confirmed...

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

The gold market put in a beautiful reversal pattern today... based on today's gold market action, I would anticipate that the main model signal buy price may move closer to the market some time later this week, maybe by Wednesday or Thursday...

For Wednesday, in the June gold futures, a close above 1485.60 (again, same price as yesterday) would confirm a new main model buy signal...

The following gold VPs remain below the market:

MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains officially short gold...

The email SUGGESTION BOX is always open and invites your ideas for improving and enhancing your email service, many thanks...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Tuesday, May 21st

The June SP Futures

The main model is currently long from 1586.60...

For Tuesday, a close below 1644.80 would confirm a new main model sell signal...

The upside VP list is as follows:

MAJOR - - 1667.50 (reached today) and must close above that price on Tuesday, May 28th or a new main model sell signal would automatically be confirmed...

MAJOR - - 1638.90 and must close above that price on Tuesday, May 21st for this rally to continue or a new main model sell signal would automatically be confirmed...

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

The gold market put in a beautiful reversal pattern today... based on today's gold market action, I would anticipate that the main model signal buy price may move closer to the market some time later this week, maybe by Wednesday or Thursday...

For Tuesday, in the June gold futures, a close above 1485.60 (same price as yesterday) would confirm a new main model buy signal... just to point out, there is no typo, the current signal buy price is about 100 dollar above the market as of now... today, we did see some sort of market reversal... so, apparently, the model did anticipate this broader range and therefore raised the buy requirements yesterday appropriately...

The following gold VPs remain below the market:

* * * MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains officially short gold...

The email SUGGESTION BOX is always open and invites your ideas for improving and enhancing your email service, many thanks...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Monday, May 20th

The June SP Futures

The main model is currently long from 1586.60...

For Monday, a close below 1643.90 would confirm a new main model sell signal...

A new major VP has formed at 1667.50

The upside VP list is as follows:

MAJOR - - 1667.50 and must close above that price on Tuesday, May 28th or a new main model sell signal would automatically be confirmed...

MAJOR - - 1638.90 and must close above that price on Tuesday, May 21st for this rally to continue or a new main model sell signal would automatically be confirmed...

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed

The NT indicator is in extremely over bought territory but the sell spike has evaporated...

Below is a monthly chart of the SP futures contract... you can see this market appears to have broken out of a 14 year trading range... while it is typical for the market to return to the break out line before resuming higher, this market seems to be destined for much higher ground... of course, no guarantees, but this is what the chart is suggesting right now... the main model definitely gave those who took the signal a very good head start for this rally and the main model has kept the long position throughout despite the NT warnings along the way... as they say, whooda thunk... I've tried several short positions and have been able to dodge the bullets successfully with minor gains and minor losses for those attempts... clearly, staying long has been the name of this game from the initial buy signal, as usual...

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

June gold closed today at 1364.70...

For Monday, in the June gold futures, a close above 1485.60 would confirm a new main model buy signal, this is higher than yesterday's buy confirmation price so the model may be anticipating some volatility in the gold market...

The following gold VPs remain below the market:

* * * MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains officially short gold ...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Friday, May 17th

The June SP Futures

The main model is currently long from 1586.60...

For Friday, a close below 1625.00 would confirm a new main model sell signal...

The upside VP list is as follows: (the market is currently above both upside VPs)

* * * MAJOR - - 1638.90 and must close above that price on Tuesday, May 21st for this rally to continue or a new main model sell signal would automatically be confirmed...

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed

The NT indicator below did issue a sell spike today... therefore, this market is ripe for some sort of decline... it doesn't mean this market must decline, but I think using caution is wise right now...

Below is the current chart of the daily SP futures contract... two things I would like to point out...

1) Simple pattern recognition... the previous top had a very similar kind of day that we have today...

2) We can see by the poorly drawn wavy lines along the right side of the chart that the previous top and today's possible top is nearly an identical measured distance from their earlier lows...

While this market can do anything it wants, I'm being very cautious at this point in this rally because of these indications...

Below is today's daily SP chart... you can see we did indeed see a reversal of sorts today, this pattern is very similar to the pattern of the previous top when the NT indicator was at the same high peak as illustrated above... this market could still move higher tomorrow, but I believe caution should be exercised...

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

For Friday, in the June gold futures, a close above 1474.40 would confirm a new main model buy signal...

The following gold VPs remain below the market:

* * * MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains officially short gold ...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Thursday, May 16th

The June SP Futures

The main model is currently long from 1586.60...

For Thursday, a close below 1623.00 would confirm a new main model sell signal...

The newly created major VP mentioned yesterday at 1638.20 has been revised upwards today and now stands at 1638.90, that's a minor adjustment... the due date has also been adjusted forward one day...

The upside VP list is as follows:

* * * MAJOR - - 1638.90 and must close above that price on Tuesday, May 21st for this rally to continue or a new main model sell signal would automatically be confirmed...

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed

The NT indicator below presents an interesting picture... although there is no sell spike, by the yellow highlighted high peaks you can see that this market is ripe for some sort of decline... it doesn't mean this market must decline, but I think using caution is wise right now...

 

Below is the current chart of the daily SP futures contract... two things I would like to point out...

1) Simple pattern recognition... the previous top had a very similar kind of day that we have today...

2) We can see by the poorly drawn wavy lines along the right side of the chart that the previous top and today's possible top is nearly an identical measured distance from their earlier lows...

While this market can do anything it wants, I'm being very cautious at this point in this rally because of these indications...

The June Gold Futures

The main model is currently short gold from 1601.90 on April 1st...

The main model is short a second gold position from 1441.20 on May 13th...

For Thursday, in the June gold futures, a close above 1475.20 would confirm a new main model buy signal...

The following gold VPs remain below the market:

* * * MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains officially short gold ...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Wednesday, May 15th

The June SP Futures

The main model is currently long from 1586.60... with today's closing price around 1648ish, this has been one great buy signal so far...

LOL!!! I have to laugh... every time the main model raises the sell price closer to the market, the market rallies higher and away from it... Mr. Bernanke, if you're a subscriber to this email service, please let me know... LOL!!!

For Wednesday, a close below 1622.80 would confirm a new main model sell signal...

And, as mentioned in this morning's special email, an additional upside major VP has developed as of today at 1638.20, see in bold below... of course, the market completely ignored it today and blew right though it... I find that incredibly powerful...

The upside VP list is as follows:

* * * MAJOR - - 1638.20 and must close above that price on Monday, May 20th for this rally to continue or a new main model sell signal would automatically be confirmed...

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed

The SP market has now been trading in the vicinity of the major VP of 1623.10... this means that the rally clearly has stalled at this VP... this cannot be ignored, although this market could still continue higher... either way, since this market is above the highest major VP, caution should be taken...

The NT indicator is deep in over bought territory but it still shows fresh buying coming into this market as of today... so, I'm convinced this market has already left our galaxy and is well on route to the next galaxy somewhere in deep outer space...

The June Gold Futures

I did receive a response from Barcharts regarding the curious settlement price on Friday... they told me that their settlement price reflected the settlement price in the pit and not the price for the electronic trading... I've seen that happen so many times before, but at least now I do have a legitimate explanation directly from them... since, the main model is based on the closing price of the futures market and not the cash electronic trading market, I would have to say that the main model did in fact have a confirmed sell signal on Friday based on the closing futures price...

So now, the mystery is solved and the main model remains short from its original short position entry on April 1st at 1601.90...

Either way, this is certainly okay with me, I'm personally short both gold and silver and plan to remain short until a main model buy signal is triggered... the gold market cannot move meaningfully higher without a main model buy signal...

For Wednesday, in the June gold futures, a close above 1475.80 would confirm a new main model buy signal...

An additional downside major VP has developed for June gold at 1422.60, see in bold below...

The following gold VPs remain below the market:

* * * MAJOR - - 1422.60 and must close above that price on Tuesday, June 4th to confirm a new main model buy signal...

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains officially short gold ...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...

For Tuesday, May 14th

The June SP Futures

The main model is currently long from 1586.60...

For Tuesday, a close below 1585.70 would confirm a new main model sell signal...

The remaining upside VP list is as follows:

MAJOR - - 1623.10 and must close above that price on Thursday, May 30th for the rally to resume or a new main model sell signal would automatically be confirmed

The SP market has now been trading in the vicinity of the major VP of 1623.10... this means that the rally clearly has stalled at this VP... this cannot be ignored, although this market could still continue higher... either way, since this market is above the highest major VP, caution should be taken...

The NT indicator is in over bought territory but the sell spike has evaporated... I'm watching this closely...

The June Gold Futures

Due to a late settlement in the June futures contract, a sell signal confirmation was not determined until later that evening... I'm waiting for a response from Comex and Barcharts regarding that late settlement price... this is despite the fact that the cash market didn't sell off at that time... so, this remains a mystery until I receive some explanation...

Therefore, the model remains short since April 1st with a close below 1601.90... however, since the Friday settlement price remains a mystery, one could as well argue that one should be flat the gold market on a non confirmed signal as first suggested...

For Tuesday, in the June gold futures, a close above 1487.60 (again, the same price as yesterday) would confirm a new main model buy signal...

The following gold VPs remain below the market:

minor - - 1308.40

MAJOR - - 1239.50 and must close above that price on Thursday, August 22nd to confirm a new main model buy signal

The following gold MAJOR VPs are currently above the market:

MAJOR - - 1497.20 and must be close above that price on Tuesday, June 11th to confirm a new main model buy signal

MAJOR - - 1509.70 and must be closed above that price on Friday, May 31st to confirm a new main model buy signal

As for now, the model remains short gold (optional)...

NOTICE: I SEND OUT AN EMAIL EVERY WEEKDAY EVENING, IF YOU DO NOT RECEIVE ONE, PLEASE LET ME KNOW, THANKS...