Connect with us

Hi, what are you looking for?

Trading Secrets

The Ord Oracle June 13, 2023

SPX Monitoring Purposes: Long SPX on 2/6/23 at 4110.98.

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

Long Term SPX Monitor Purposes: Neutral.

We updated this chart from yesterday. The short term picture leans bullish as the VIX remains below +17, with the current reading coming in at +14.69. What we said yesterday remains in force: “The bottom window is the weekly VIX going back to early June 2021. It’s common for the SPY to trend higher when the VIX is below 17. The VIX current reading stands at 14.82 and near a 2½ year low. VIX has generally been below 17 since early April and below 17 continually the last couple of weeks. This evidence suggests that the SPY is in a trending mode that could last weeks if not months. Support now lies near 420 range on the SPY.” We were long SPX on 12/20/22 to 1/27/23 for gain of 6.51%; long again from 2/6/23 to present for a +6.9% gain; totaling over 13.41% so far this year.

The bottom window is the 10-day average of the TRIN. It’s common for the SPY to stall, if not reverse, when the 10-day average of the TRIN reaches .80 and lower. We identified those instances with red lines. The current 10-day average of the TRIN stands at .93 and is in an area where the SPY can continue to rally. This indicator near .80 is something to watch for, which in turn could lead to a bearish setup.

Tim Ord,

Editor

www.ord-oracle.com. Book release “The Secret Science of Price and Volume” by Timothy Ord, buy at www.Amazon.com.


Signals are provided as general information only and are not investment recommendations. You are responsible for your own investment decisions. Past performance does not guarantee future performance. Opinions are based on historical research and data believed reliable; there is no guarantee results will be profitable. Not responsible for errors or omissions. I may invest in the vehicles mentioned above.

You May Also Like

Financial News

McCarthy’s Speakership Hangs in the Balance as House Greenlights Stopgap Funding Bill: A Defining Moment Looms In a stunning turn of events, the future...

Trading Secrets

On this week’s edition of Trading Simplified, Dave continues to show his methodology in action with a new mystery chart. In his “Mind the...

Financial News

Conservatives Call for GOP Candidates to Step Aside After Second Debate: A Call to Streamline the Republican Race In a surprising turn of events,...

Financial News

Poll Unveils GOP Primary Voters’ Resounding Verdict on Best Republican Debate Performance In the midst of a heated Republican primary race, the GOP primary...