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The Ord Oracle

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DiscoverGold Member Level  Wednesday, 07/21/21 02:59:57 PM
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The Ord Oracle
By: Tim Ord | July 21, 2021

SPX Monitoring Purposes: Sold 7/20/21 SPX 4325= gain .08%; long SPX 6/28/21 at 4290.61.

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

Long-Term SPX Monitor Purposes: Neutral.



We do not expect major support near 250 on the HUI to be broken for any length of time. What we said last Thursday still goes: "Have to keep an eye on the bigger picture as the bigger timeframes rule the smaller timeframes. Above is the monthly HUI going back to 2011. The middle window is the monthly HUI. HUI broke above 275 resistance back in mid-2020 and is now support. This major support line dates back to 2013 and unlikely to be broken other than for brief periods. The monthly mid-Bollinger bands define the trend for this market, which is rising. Monthly RSI above 50 also suggests the trend is up and the RSI has been above 50 since early 2019. HUI is at major support and waiting for the next rally phase to begin." We updated the blue horizontal trend line and moved it to the March low near 250; it appears to be the logical place for it to be. Back in April 2020, HUI broke above that 250 seven-year trend line and it likely will hold that major support. Though it seems scary, scary is good at bottoms and it what is needed.

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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