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Thursday, January 24, 2019 8:15:29 AM
The Ord Oracle
By: Tim Ord | January 23, 2019
SPX Monitoring purposes; Neutral.
Monitoring purposes GOLD: Sold 11/27/18 at 18.88=gain .075%; Long GDX at 18.72 on 8/17/18
Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78
Above is a short term view for GDX. The bottom window is the Up/Down Volume Percent with a 7-period moving average, which, when above “0,” is a bullish condition for GDX and, when below, a bearish condition. This indicator has been below “0” since January 10. The next window up is the Advance-Decline Percent with a 7-period moving average, where readings below “0” are bearish (current reading is -34.39). The next window up is the GDX/GLD ratio. It’s a bullish sign for gold and gold stocks when this ratio is outperforming GDX. The GDX/GLD ratio closed below its December 19 low and GDX held above, showing that the GDX/GLD ratio is weaker than GDX - a bearish sign for both gold and Gold stocks short term. There are cycles for a low due from late January to early March; we are entering this cycle low now. This potential pullback could lead to a longer bullish setup. We will wait for the next bullish setup.
Tim Ord,
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By: Tim Ord | January 23, 2019
SPX Monitoring purposes; Neutral.
Monitoring purposes GOLD: Sold 11/27/18 at 18.88=gain .075%; Long GDX at 18.72 on 8/17/18
Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78
Above is a short term view for GDX. The bottom window is the Up/Down Volume Percent with a 7-period moving average, which, when above “0,” is a bullish condition for GDX and, when below, a bearish condition. This indicator has been below “0” since January 10. The next window up is the Advance-Decline Percent with a 7-period moving average, where readings below “0” are bearish (current reading is -34.39). The next window up is the GDX/GLD ratio. It’s a bullish sign for gold and gold stocks when this ratio is outperforming GDX. The GDX/GLD ratio closed below its December 19 low and GDX held above, showing that the GDX/GLD ratio is weaker than GDX - a bearish sign for both gold and Gold stocks short term. There are cycles for a low due from late January to early March; we are entering this cycle low now. This potential pullback could lead to a longer bullish setup. We will wait for the next bullish setup.
Tim Ord,
Editor
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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