• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock The Ord Oracle May 9, 2023
Stock

The Ord Oracle May 9, 2023

by May 10, 2023
by May 10, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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.

What we said yesterday still stands. “We noted the bullish TICK and TRIN closes (noted in blue) on April 25 and 26 and May 2 and 3 which come at the 405 to 410 SPY range. TICK closing readings below -200 and TRIN closes above 1.20 suggests there is panic in the market, and panic forms near lows. There is an open gap from last Friday near 405 SPY, which is also the previous high of early March and a support area (shaded area in pink). We have panic in the TICK and TRIN on the previous and current pullback, and panic forms near lows in the market. Panic is present near the 405 SPY area, which in turns suggests support. The SPY again may attempt to test the gap near the 405 level before heading higher. The intermediate-term trend appears up, and the short-term trend could attempt to fill gap near 405 before heading higher.”

Above is an indicator that helps to find the larger trend. The bottom window is the 5-week average of the SPX/VIX ratio. This ratio rises and falls with the SPX. Tops in SPX can occur when the SPX makes higher highs and the SPX/VIX ratio makes lower highs. We pointed out past tops in the SPX when this condition arises. The 5-period SPX/VIX ratio has made a higher high while SPX is testing its previous high, which we take as a bullish divergence and that SPX will made a higher high soon. The market appears to be building a base for a rally higher. Possible upside target is the January 2022 high near 4700 SPX.

We have been looking at the 50-day average of the Up Down Volume percent for GDX and the 50-day average of the Advance/Decline percent for GDX over the last several days; both of which are above 0 and bullish. The bottom window in the chart above is the 18-day average of the Advance/Decline percent for GDX and the next window higher is the 18-day average of the Up Down Volume percent for GDX.  We have shown these charts in the past; these two indictors help find surges patterns in GDX. When both indicators reach +40 and higher, GDX enters into what we call a “surge pattern” where GDX strongly rallies, and the rally lasts from 3 to 6 months (mostly in the 4 to 5 months). Both indicators reached above +40 on April 4. Add four to five months to April 4 and the rally could extend into August to September of this year. We have another indicator, which we will show in a future report, that a 100% rise from the October low is possible, which would give a target on GDX near 44.00.

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 Might Also Like
  • Stock Market Ends Week on Optimistic Note, With a Few Surprises
  • Bonds, Secular Bear Market, and the Impact on Small Caps
  • The 2 Best Holiday Gifts You Can Give Your Kids!
  • Today’s Price Action Could Be the Start of a Rally Attempt
Share
0
FacebookTwitterPinterestWhatsapp

previous post
More Americans are so worried about money, it’s hurting their mental health
next post
The Wisdom of Jesse Livermore, Part 4

You may also like

BSX Stock Slump? Discover This Winning Option Strategy

April 2, 2025

The Elders Both Fatigue: Grandpa Russell 2000 v. Granny Retail

May 24, 2023

XLF’s Record Highs: Buy the Dip or Bail Out Now?

January 31, 2025

A Few Bitcoin Buy Targets (If You’re Betting On a...

June 29, 2023

AMD at a Crossroads: Buy Now or Brace for More...

May 2, 2024

Broad-Based Stock Market Selloff: How to Position Your Portfolio?

September 6, 2024

DP Trading Room: How To Time Your Trade Entries &...

November 28, 2023

2-Year Business Cycles Matter in This Market

February 8, 2023

Stock Market Fallout: How To Tweak Your Investment Strategy

March 10, 2023

CRITICAL Week Ahead for S&P 500

August 13, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,630 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    The SCTR Report: Why PLTR Stock...

    April 30, 2025

    Market Research and Analysis – Part...

    April 11, 2024

    Here’s Why The Bottom Is Dropping...

    January 11, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here