The Ord Oracle By Tim Ord (07/27/11)_TY_George
* Wednesday, July 27, 2011
This chart is Tim Ord's SPY chart for 07/27/2011 not shown in his Public Post.
For 30 to 90 days horizons SPX: Flat.
Monitoring purposes GOLD: Gold ETF GLD long at 147.14 on 6/29/11
Long Term Trend monitor purposes: Flat
Today the Spy tested the gap level of July 19 on higher volume and suggests the gap has no support and will move down to the next support which is the July 18 low near 129.50 on the SPY. If the 129.50 is tested on lighter volume and the Ticks close below -500 with the TRIN close above +2.00 a possible low could form there. As large as decline was today the TRIN relatively did not respond, this implies there was little fear. For most lows to form in the market is that fear is present and the TRIN and Ticks readings show that fear and is reason we look at the TRIN and TICK closes. Today’s ticks close came in minus 1158 and is at extreme and a bullish sign. We will remain on the sidelines for now.
Today is the third day down in a row and the 5 day EMA of the ticks have pushed into a two year low and a bullish sign. Most lows of this type have the 5 day EMA of the TRIN close near 1.75 or higher to confirm the low and today’s close came in at 1.14 which is not confirming the ticks bullish readings. Ideally the TRIN should jump short term to get the bullish setup. Today the NYSE McClellan Oscillator closed at -74.81 and did not produce a positive divergence but is pushed to negative extremes. Ideally we would like to see the positive divergence at the lows. We have identified previous positive divergence on the McClellan Oscillator with red lines. We will remain flat for now.
Above is the daily GDX. On July 13 GDX jumped the previous high of late May with a “Sign of Strength” (high volume close above the previous high) which confirmed the breakout. A gap formed on the “Sign of Strength” day and gaps normally get tested. If the test comes on lighter volume than the gap area should hold as support and is appears the gap will be tested on lighter volume and suggest the 58-57 range will hold as support. The trend is up on Silver, Gold and GDX of which we are long all three.
Long YNGFF .44 on 7/6/11. Long SLV at 34.39 on 7/5/11. Long EGI at 2.16, on 6/30/11. Long GDX at 57.01. Long GLD at 147.14 on 6/29/11. Long KBX at 1.13 on 11/9/10. Long LODE at 2.85 on 1/21/11. Long UEXCF at 2.07 on 1/5/11. We will hold as our core position in NXG, CDE and KGC because in the longer term view these issues will head much higher. Holding CDE (average long at 27.7. Long KRY at 1.82 on 2/5/08. KGC long at 6.07. Long NXG average of 2.26. For examples in how "Ord-Volume" works, visit www.ord-oracle.com.
http://www.decisionpoint.com/TAC/ORD.html
George.
* Wednesday, July 27, 2011
This chart is Tim Ord's SPY chart for 07/27/2011 not shown in his Public Post.
For 30 to 90 days horizons SPX: Flat.
Monitoring purposes GOLD: Gold ETF GLD long at 147.14 on 6/29/11
Long Term Trend monitor purposes: Flat
Today the Spy tested the gap level of July 19 on higher volume and suggests the gap has no support and will move down to the next support which is the July 18 low near 129.50 on the SPY. If the 129.50 is tested on lighter volume and the Ticks close below -500 with the TRIN close above +2.00 a possible low could form there. As large as decline was today the TRIN relatively did not respond, this implies there was little fear. For most lows to form in the market is that fear is present and the TRIN and Ticks readings show that fear and is reason we look at the TRIN and TICK closes. Today’s ticks close came in minus 1158 and is at extreme and a bullish sign. We will remain on the sidelines for now.
Today is the third day down in a row and the 5 day EMA of the ticks have pushed into a two year low and a bullish sign. Most lows of this type have the 5 day EMA of the TRIN close near 1.75 or higher to confirm the low and today’s close came in at 1.14 which is not confirming the ticks bullish readings. Ideally the TRIN should jump short term to get the bullish setup. Today the NYSE McClellan Oscillator closed at -74.81 and did not produce a positive divergence but is pushed to negative extremes. Ideally we would like to see the positive divergence at the lows. We have identified previous positive divergence on the McClellan Oscillator with red lines. We will remain flat for now.
Above is the daily GDX. On July 13 GDX jumped the previous high of late May with a “Sign of Strength” (high volume close above the previous high) which confirmed the breakout. A gap formed on the “Sign of Strength” day and gaps normally get tested. If the test comes on lighter volume than the gap area should hold as support and is appears the gap will be tested on lighter volume and suggest the 58-57 range will hold as support. The trend is up on Silver, Gold and GDX of which we are long all three.
Long YNGFF .44 on 7/6/11. Long SLV at 34.39 on 7/5/11. Long EGI at 2.16, on 6/30/11. Long GDX at 57.01. Long GLD at 147.14 on 6/29/11. Long KBX at 1.13 on 11/9/10. Long LODE at 2.85 on 1/21/11. Long UEXCF at 2.07 on 1/5/11. We will hold as our core position in NXG, CDE and KGC because in the longer term view these issues will head much higher. Holding CDE (average long at 27.7. Long KRY at 1.82 on 2/5/08. KGC long at 6.07. Long NXG average of 2.26. For examples in how "Ord-Volume" works, visit www.ord-oracle.com.
http://www.decisionpoint.com/TAC/ORD.html
George.
Trade at YOUR OWN: Risk, DueDiligence, RiskTolerance. Trading Responsiblity is Totally Yours!
You are Spending Your Money, no one elses! Be Wise, Be Thinking, Be Deliberate!
Be Lucky, Chichi2
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