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Mario Randholm Blog. Mario is the founder of Randholm & Co. S.A.C., an investment management company dedicated to producing superior returns for its clients and employees by adhering to mathematical and statistical methods.
#SPX strong for now
Trading higher than last Friday Close which is positive for the portfolio and the bulls. My algos shows a higher probabilites to trade higher this week.
On the other hand, we need to pay close attention to the correlation on the SPX and NDX to gauge the bulls strength.
Typically oil is the leading indicator of trouble in Iraq and gold follows oil. In an anomaly, gold is up but oil is stable.
It is worth noting that gold is approaching stiff resistance zone of $1288-1313.
Interest rates are stable.
Gold futures are at $1281, silver futures are at $19.77, and oil futures are at $107.09.
S&P 500 resistance levels are 1950 and 1975 ; support levels are 1925, 1900, and $1875 .