2016 June – short term price range for Gold and $SPY

Short term (until 2016 September) Gold price action looks bullish, it is a buy above $1240, and profit taking around $1320.

Short/mid term (until 2017 January) $SPY looks bearish, with a top ardoun $212, and a bottom supported by FED balance sheet around $180.

FED Balance Sheet vs $SPY update:

spy-price-vs-fed-total-assets-since-2003-to-20160612

$SPY price vs FED total assets since 2003 to 20160612