Market update - week ending 4th Aug, 2012

No fundamental change in the signal for various asset classes.

• SPY continues to remain long.
• TLT is facing resistance and stop is now moved upwards to 125.5.
• DBA is long
• GLD's still not long and been in the neutral zone for some time now.
• UNG continues to be long

The theme remains that SPY, TLT, DBA are all long and GLD is about to turn long.

ETF	Status	Notes
TLT	Hold	Sell on a close below 125.5
DBA	Long	Stop Loss: Close below 29
SPY	Long	Stop loss on a close below 132.5 (reduced the stop instead of increasing it, willing to take a little more risk to avoid whipsaws)
UNG	Long	Stop loss on a close below 18.
GLD	No position	Buy on a close above 159. Subsequently, stop loss on a close below 154.16.

Happy trading!