The Ord Oracle February 8, 2022 | High Advisors Nook

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SPX Monitoring Functions: Coated 1/24/22 open 4356.32=7.57%; Brief SPX 1/11/22 at 4713.07.

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

Lengthy Time period SPX Monitor Functions: Impartial.

We up to date this chart from yesterday. The second window up from the underside is the VVIX/VIX ratio with a 3-period transferring common. This ratio helps to outline the short-term development for the SPX. In the mean time, it is nonetheless trending larger, suggesting the short-term development is up. This ratio can change shortly, however the message proper now remains to be up. One risk is that we take a look at the down hole from final Wednesday excessive to Thursday’s open, which is available in close to 451 on the SPY. If that potential hole take a look at comes on lighter quantity, that will recommend the hole has resistance; if assessments comes on larger quantity, that can recommend the market can transfer previous the hole. Staying impartial for now.

The highest window is the 10-day common of the TRIN; readings above 1.30 are bullish and people under .85 lean bearish. Yesterday’s shut got here in at .84. The horizontal traces exhibits the occasions when 10-day TRIN reached under .85. The blue horizontal traces present occasions the market has stalled or declined; the crimson traces present when it appeared to not matter. This indicator suggests upside could also be restricted for the short-term on the SPX. This week is the week earlier than choice expiration week, the place whipssaws are frequent. The conclusion is that the VVIX/VIX ratio on web page one suggests the market can nonetheless push modestly larger, however with 10 day TRIN <.84, that means upside is proscribed, giving the likelihood {that a} hole take a look at close to 451 on SPY might be the perfect the market can do short-term.

Again in January, GLD was trying prefer it was about to interrupt above the neckline of a head-and-shoulders backside (prime window). It didn’t and backed away from it, however, as you’ll be able to see, it’s now rising again to the neckline. The neckline lies close to 172 on GLD and the place the place a “Signal of Power” is required for a breaking of the neckline to achieve success. The subsequent window down is the GDX/GLD ratio. Its additionally rising to a development line (close to .190) and it, too, would wish a “Signal of Power” to verify a breakout above that degree. The underside window is GDX and it’s also close to a breakout development line close to 32.50 vary; it might want a “Signal of Power” by means of that degree to verify the breakout. We’re watching intently to see what develops within the coming weeks. All indexes above have moved sideways because the October low and this might be the “calm” earlier than the “Storm” (that means markets lastly break above their development traces).

Tim Ord,

Editor

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

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