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The Ord Oracle

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DiscoverGold Member Level  Friday, 06/11/21 07:19:11 AM
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The Ord Oracle
By: Tim Ord | June 10, 2021

SPX Monitoring Purposes: Sold 6/1/21 SPX at 4202.04 gain 2.1%; Long 5/19/21 at 4115.68.

Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78.

Long-Term SPX Monitor Purposes: Sold long SPX on 1/15/21 at 3768.25= gain 10.80%; Long SPX on 10/26/20 at 3400.97.



The bottom window is the weekly Gold chart, along with its Fibonacci retracements, which were 61.8% from last March low. Compare that to the weekly XAU chart, which only retraced 38.2%, illustrating that Gold stocks are stronger than Gold; this shows the market is in a bull market. This relationship can be seen in the weekly XAU/Gold ratio, which has been steadily rising since December 2020 and has hit new three-year high and a bullish longer-term sign. Though XAU has traded sideways since last November, the weekly XAU/Gold ratio has hit new highs above last November. In bull markets, the XAU/GOLD ratio leads XAU. This suggests new highs are coming for the XAU.

Tim Ord,

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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. Caveat emptor!
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