The Ord Oracle August 3, 2021 | Top Advisors Corner


SPX Monitoring Functions: Lengthy 7/23/21 SPX 4411.79

Monitoring Functions GOLD: Lengthy GDX on 10/9/20 at 40.78.

Lengthy Time period SPX Monitor Functions: Impartial

Every week in the past final Friday, the 2-day TRIN closed at 3.36, which is a bullish signal short-term. Yesterday, the 2 day TRIN closed at 3.05 and one other bullish brief time period signal. The SPY was up 5 days in a row going into final Monday and the market is increased inside 5 days 84% of the time. Yesterday marks the fifth day, however generally it could actually take as much as seven market days to make a better excessive and this seems to be a kind of occasions. The CNN Concern & Greed Index right now closed at 30 and suggests excessive concern and a bullish signal. Seasonality-wise, going into a brand new month often leans bullish. Seasonality for August month leans bearish, so when the present rally ends, the market might flip sideways. It is nonetheless possible a brand new excessive out there coming earlier than the week is out.

The second window up from the underside is the “2-day common of the TRIN.” We marked with purple vertical strains the occasions when the “2-day TRIN” was above 1.50 (yesterday’s studying was 1.53) going again a couple of yr. Of the final 15 chases the place the “2-day TRIN” was at or above 1.50, in 13 (87%) instances, the rally began or continued at that time. Within the two instances the place the rally didn’t begin instantly (circled in purple), a quick pull occurred after which the rally began.

Above is a shorter-term view of yesterday’s chart. The underside window is an 18-day common of the Advance/Decline % and the subsequent window up is the 18-day common of the Up Down quantity %; each indicators are for the GDX ETF. Each indicators reached under -30 in late June and, in earlier cases when this occurred, the market was close to a major low. We discover prior to now, when each indicators stay above “0” (each presently are), the uptrend often continues. Appears to be like good thus far.

Tim Ord,

Editor

www.ord-oracle.com. New E-book launch “The Secret Science of Worth and Quantity” by Timothy Ord, purchase at www.Amazon.com.

Subscribe to High Advisors Nook to be notified each time a brand new submit is added to this weblog!



Source link