Technicals: SPX, Gold And GDX


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  • Monitoring functions; Long SPX 5/31/19 at 2752.06.
  • Monitoring functions : Long VanEck Vectors Gold Miners ETF (NYSE:) on 1/29/19 at 21.96.
  • Long-term Trend SPX monitor functions; Sold lengthy SPX on 5/6/19 at 2932.61= achieve 5.96%:
Market Volatility (top), SPDR S&P 500Market Volatility (prime), SPDR S&P 500

We up to date this chart from yesterday. Second window up from the underside is the SPY/ ratio. Near lows within the SPY (NYSE:) the SPY/VIX ratio will pattern sideways if not flip up. Yesterday the SPY/VIX ratio a minimum of turned sideways and a bullish signal; and at present it rallied. On Friday the Trin closed at 1.21 and the Ticks closed at -97 and a brief time period bullish mixture. This bullish mixture can lead a low by a few days and looking out again the low within the SPY got here yesterday. On an even bigger timeframe, the SPY has hit decrease lows as VIX has made decrease highs and a bullish divergence suggesting sooner or later the SPY will hit a better excessive above the May excessive. SPY might discover resistance close to the mid May excessive close to 288 (2880 SPX). However this excessive might solely be momentary earlier than shifting increased into possibility expiration week of June 21. Long SPX on 5/31/19 at 2752.06. Join us on twitter. @OrdOracle.

Above is an fascinating chart which is the weekly “The American Association of particular person traders bull bear ratio” with a 3 interval shifting common. When this ratio reaches under .75 (present studying is .64) the market is close to an intermediate time period low. This chart means that the present rally is just not a bounce in a downtrend however somewhat a rally that may final a month or longer. There is a chance that the present rally might return and check the May excessive. Follow us on twitter. @OrdOracle

Gold Miners

Above is the weekly GDX chart going again to mid 2016. The second window up from the underside is the weekly (ETF for Gold). The Bollinger band began to “pinch” in May suggesting a big transfer was not far off. It seems now that the “giant transfer” is starting. On Yesterday’s report we stated that Gold (GLD) might get stronger because the Neckline of a Head and Shoulders backside wants a “SOS” (signal of Strength) by means of this stage to verify the Head and Shoulders backside. If Gold will get stronger than GDX must be even stronger as Gold Stocks outperforms gold in bullish developments and the explanation why GDX/GLD ratio rises in bull developments. GDX held close to 20.50 assist which was the 2017 lows. GDX might now rally to the highest of the 2017 buying and selling vary which is close to 25.00. Ideally we wish to see the 25.00 vary damaged and proceed increased which is feasible. In normal we count on the present rally to proceed into the September October timeframe. Long GDX on 1/29/19 at 21.97. New Book launch “The Secret Science of Price and Volume” by Timothy Ord.

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