If SPX is moving higher, i will be looking at a Short position in gold.
The same apply to the the declining price of the SPX, i will be looking for call positions for gold.
Levels to look for here is the 1350-1360, 1280 - 1300.
Right now, i see a fall in risk appetite, and therefore a rise in gold. Waiting for the right timing to enter a long position on gold. The price could rise for the SPX to test the highs, before we could see downturn. While gold prices could also decline to 1280, before moving upward.
Will update when the time is coming :)
Also look for the US10Y. A falling Yield indicates more influx of money to the bond market and less for the stock market.
The same apply to the the declining price of the SPX, i will be looking for call positions for gold.
Levels to look for here is the 1350-1360, 1280 - 1300.
Right now, i see a fall in risk appetite, and therefore a rise in gold. Waiting for the right timing to enter a long position on gold. The price could rise for the SPX to test the highs, before we could see downturn. While gold prices could also decline to 1280, before moving upward.
Will update when the time is coming :)
Also look for the US10Y. A falling Yield indicates more influx of money to the bond market and less for the stock market.
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