SPX, SPY, Gold And GDX Technicals: 06/12/19

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#us500 #snp500

  • SPX Monitoring functions; Sold lengthy 6/7/19 at 2873.33= acquire 4.41%; lengthy 5/31/19 & 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= acquire 5.96%:
SPDR S&P 500, VIX

Yesterday we mentioned, “This is the week earlier than expiration week, which generally has whipsaws and subsequent week is choice expiration week which usually has a bullish bias. Today marks 5 day up in a row which is bearish quick time period however bullish long term. When market is up 5 days in a row the market is larger eight days out 93% of the time. Since this week is the week earlier than choice expiration week and market up 5 days in a row the percentages {that a} pull again will begin is tomorrow. The sample that could possibly be forming here’s a “Right Shoulder” of a Head and Shoulders backside. The subsequent low ought to see panic within the tick and trin to point help is close to. The subsequent space of help is available in close to the 284 SPY vary and a spot to search for panic.” This state of affairs is enjoying out. The backside window is the 150 shifting common of the 5 minute Cumulative tick. It rises and falls with the market and over the past couple of days it has rolled over and a bearish quick time period signal. Watching for indicators for the following bullish setup. Follow us on twitter. @OrdOracle Ask without cost trial.

SPY:VIX Ratio

Second window up from the underside is the SPY/ ratio. In down trending markets, this ratio declines and in an uptrend it rises. Since final Friday this ratio has trended sideways and never confirming Friday and Monday’s rise within the SPDR S&P 500 (NYSE:). Also discover that SPY broke beneath its Mid May low close to 280 hitting a low close to 273 whereas the VIX didn’t shut above it earlier excessive of mid May which is a bullish divergence for the SPY. This situation suggests the SPY might hit a brand new excessive above the May excessive of 295 vary as soon as this potential consolidation is accomplished. Sold lengthy SPX 6/7/19 at 2873.33= acquire 4.41%; lengthy 5/31/19 & 2752.06. Join us on twitter. @OrdOracle

GLD

Monthly SPDR® Gold Shares (NYSE:) is consuming by means of the “Price by Volume” ranges of 120 to 130 and as soon as although ought to grow to be robust help. Four or better month-to-month rise in GLD occur in uptrend’s. The month-to-month GLD rose every month from October to January 2019. The Monthly RSI for GLD stands at 57 and readings above 50 present market is in an uptrend. Neckline of a possible Head and Shoulders backside for GLD lies close to 128 and can want “Sign of Strength” to substantiate breakout of the Neckline and why might get stronger close to time period. Long GDX on 1/29/19 at 21.97. ord-oracle.com. New Book launch “The Secret Science of Price and Volume” by Timothy Ord.

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