• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock The Ord Oracle November 21, 2023
Stock

The Ord Oracle November 21, 2023

by November 22, 2023
by November 22, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

SPX Monitoring Purposes: Long SPX 10/27/23 at 4117.37.
Gain since 12/20/22: Over 26%.
Monitoring Purposes GOLD:  Long GDX on 10/9/20 at 40.78.  

Above is the monthly SPX chart. The pattern that appears to be forming is a head-and-shoulders bottom and the right shoulder is forming now. The neckline lies near the 4600 range and would need a “Sign of Strength” through that level to confirm this pattern. The bottom window is the monthly SPX/VIX ratio, which has made a higher high, while the SPX so far has made a lower high. The SPX/VIX ratio leads the SPX, suggesting that, at some point, the SPX will break to a higher high. We are long SPX 10/27/23 at 4117.37.

We updated this chart from yesterday. The bottom window is the SPY, and next higher window is the TLT/VVIX ratio. It is common near short-term highs for the SPY to make higher highs and the TLT/VVIX ratio to make lower highs (noted in shaded pink). What we are seeing now is that the SPY is continuing to make higher highs and the TLT/VVIX ratio is also making higher highs, suggesting the current rally may continue (noted in shaded light blue). The SPY was up 5 days in a row going into Monday; going up 5 days in a row foretells the market will be higher within five days 83% of the time.

Last Thursday’s report said, “above is the Bullish percent index for the Gold Miners index. The bullish percent index measures the percent on stocks that are on point and figure buy signals. For a valid bullish signal, the Bullish Percent index would need to rise. Since the beginning of October, the bullish percent index has been rising from 10% to the current reading of 25%, which in turn shows this market is getting stronger as more stocks trigger buy signals. GDX has not traded above its previous high of the 30.00 range yet, whereas the bullish percent index has made higher highs, suggesting GDX’s next test of 30.00 will be exceeded.” The bullish percent index now stands at 32.14% and GDX still hasn’t broken 30.00.

You Might Also Like
  • DP Trading Room: Mega-Caps Looking Bearish
  • Stock Market Delivered Huge Gift, Wipes Away Recession Fears
  • DP Trading Room: Tracking Gold Sentiment
  • Here’s Why A Short-Term Top Might Be Nearing
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Biden admin reacts to temporary cease-fire deal between Israel and Hamas, release of hostages
next post
Lawmakers demand answers from AP, Reuters amid accusations their journalists knew about Hamas attack

You may also like

Week Ahead: Precariously Low Levels Of VIX Poses Continued Threat...

August 6, 2023

Long Bonds Continue to Break Down

January 17, 2025

Breakdown in Mega-Cap Growth Confirms Bear Phase

April 20, 2024

Stealth AI Stocks Are Taking Off in a Flat Market

October 4, 2024

EQUITIES HIT ALL TIME HIGHS AS TECHNOLOGY JOINS LEADERSHIP GROUPS

May 20, 2024

I Say We’re Setting Up For A Major Bottom

September 24, 2023

Tesla Reports April 19 — What to Look For

April 18, 2023

MACD Reverse Divergence

April 20, 2023

Daily Briefing Notes for the Market

May 8, 2023

The S&P 500 Snapped Back Hard: Now What?

May 14, 2025

    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

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

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

      June 27, 2024 2,765 views
    • 2

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

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

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

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    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

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    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

    Silver’s AI Boom: The Next Big...

    July 9, 2024

    Week Ahead: NIFTY Remains Prone To...

    April 8, 2023

    Soybeans Could be the Next Parabolic...

    November 16, 2023
    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