STOCKS: It looked like we would have more of a down session and then some Fed officials came on the wire sounding  more dovish about  interest rates. That turned it around, but not enough to go positive.         

GOLD: Gold dropped $2. There was no reason given. Some days there isn’t one.

Todd Market Forecast for  Thursday  April 16, 2015 

Available Mon- Friday after 6:00 P.M. Eastern, 3:00 Pacific.

DOW                                                  – 7 on 450 net declines

NASDAQ COMP                                   – 3 on 200 net declines

SHORT TERM TREND                          Bullish

INTERMEDIATE TERM TREND              Bullish

CHART: We’re a bit concerned by the chart below. First, the S&P 500 is overbought as measured by 5 Day RSI (arrows). Second, the index is at the level that turned the last rally back in mid March. Let’s keep a close watch.

BOTTOM LINE:  (Trading)

Our intermediate term system is on a buy from Feb. 20, 2015. We are long the SPY from 206.43.

GOLD  We are in cash. Stay there.

We’re on a buy for bonds as of March 18.                  

We’re on a buy for the dollar and a sell for the euro as of March 30.                    

We’re on a sell for gold as of April 14.                      

We’re on a sell for silver as of March 30.                      

We’re on a buy for crude oil as of March 23.                          

We’re on a buy for the Toronto Stock Exchange as of March 16.   

We’re on a sell for the S&P\TSX Venture Fund as of October 30.

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