• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock The Ord Oracle August 8, 2023
Stock

The Ord Oracle August 8, 2023

by August 9, 2023
by August 9, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

SPX Monitoring Purposes: Long SPX 6/21/23 at 4365.69; sold 7/21/23 4536.34=gain 3.91%.

Long SPX on 2/6/23 at 4110.98: Sold 6/16/23 at 4409.59 = gain of 7.26%. Gain since 12/20/22=17.68%.

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

SPY has an open gap near 454, which is close to the highs of August 2 and 4th, and both of those highs had relative high volume and imply heavy resistance. This condition would suggest the high of July 27 near 460 will not be tested. Friday’s volume (August 4) was high, and today trading tested Friday’s low on lighter volume, suggesting support. We also tested yesterday’s gap low on higher volume, suggesting yesterday’s low may be tested again. Friday’s close produced a 1.79 TRIN and -414 TICK, which is a bullish combination and suggests a low will form from as early as the readings were recorded to as late as two days later, which would be today (we are starting to see third day out could produce a low, which would be Wednesday). We could see a “back and forth” for a couple of days before the 454 SPY gap level may be tested. Options expiration week is next week, which has a bullish bias; a bullish setup could be triggered this week for a rally into option expiration week.

I’m on TFNN.com Tuesday 2:30 Eastern Time; Thursday 2:20 Eastern Time. Tune in.

We updated this chart from yesterday and said, “Noted in pink are the times when VIX made higher lows as SPY made higher highs, which is a bearish divergence. The current divergence could produce a pullback of 7% to 9% from its high. Strong support lies near 4200 SPX range.” Added to the above; it looks as though market may bounce first before another decline, which may take market to the 4200 SPX support.

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
  • Do You Need Direction for 2025? Here Are 3 Charts You Should NOT Ignore
  • Will the S&P 500 Push Above 4600 Before Year-End?
  • Let The Charts Do The Talking
  • Bearish Divergences Plaguing Former Leadership Names
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Big Tech, Big Troubles
next post
The Halftime Show: Are Broadline Retailers Starting to Turn?

You may also like

Investors Await CPI and Bank Earnings: Will They Spark Investor...

January 15, 2025

DP Trading Room: Can Tech’s Bullish Bias Hold?

September 12, 2023

DP Trading Room: Two Industry Groups To Watch!

May 6, 2024

Always Be Learning: Exiting Too Soon On A Losing Position

January 27, 2023

Top Five Charts of 2023 #3: Market Breadth Indicators

December 21, 2023

Week Ahead: Markets’ Reaction to Exit Poll and General Election...

June 3, 2024

Trend (Re)Entry and You!

August 15, 2023

Risk-On Trades Emerge Amid Big Tech Selloff

February 17, 2024

Sector Spotlight: US Stocks Once Again Lead the World

January 23, 2024

$SPY FLAGS NEW “GO” TREND IN THE FACE OF DEFENSIVE...

May 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

    5 Must-Know Interactive Features to Supercharge...

    May 20, 2023

    Cisco Takes the Lead with a...

    July 24, 2023

    Bitcoin Halving Could Bring Massive Upside!

    April 17, 2024
    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