SPX Monitoring Functions: Lengthy SPX on 2/6/23 at 4110.98

Monitoring Functions GOLD: Lengthy GDX on 10/9/20 at 40.78.

Lengthy Time period SPX Monitor Functions: Impartial.

We up to date this chart from yesterday. The SPY/VIX ratio continues to be rising, which suggests the SPY is in an uptrend. Yesterday we stated, “Above is the each day SPY/VIX ratio going again to final March. This ratio helps to outline the route for the SPY. When this ratio is rising, SPY is in an uptrend; when declining, it’s in a downtrend. This ratio turned up in mid-March and has continued to rise, suggesting SPY is in an uptrend. The purple and blue vertical traces present the occasions when ratio has reversed route. The highest window is the VIX, which touched a brand new yearly low right this moment and a bullish signal for intermediate time period. Meals for thought; in pre-election years (like this yr), April is up 94% of the time. If January was up (it was up over 6% this yr), April is up 88% of the time.”

The underside window within the chart above is the weekly VIX. The sunshine pink-shaded space is when the VIX was beneath 17 (the VIX closed right this moment at 16.79). It seems that when the VIX is beneath 17, SPX is in a trending mode. The sunshine blue shaded space reveals the occasions when the VIX was beneath 17 and in contrast that to what the SPX did. With the VIX beneath 17, the SPX could also be in a rally development mode.

Above is the weekly Gold and ETF for Gold, GLD. Each indexes are again up the to their earlier highs and holding regular. It is a third check of the earlier highs for each indexes. The extra occasions a excessive is examined, the extra probably the earlier excessive will likely be exceeded. Now we have the GDX bullish into the August-September timeframe (see final evening’s report) and if GDX goes up, so will Gold and GLD. To get by way of the earlier highs, a “Signal of Power” (sturdy quantity with sturdy rally) will likely be wanted, and that situation might develop within the coming weeks, the place the market could also be getting stronger.

Tim Ord,

Editor

www.ord-oracle.com. Ebook launch “The Secret Science of Value and Quantity” by Timothy Ord, purchase at www.Amazon.com.

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