SPX, Gold, GDX Technicals: 09_12_18
Tim Ord | Sep 12, 2018 12:04PM ET
- SPX Monitoring purposes; Monitoring purposes; Sold long SPX 9/7/18 at 2871.68=loss 1.03%: long 2901.52 on 8/31/18.
- Monitoring purposes Gold: Long VanEck Vectors Gold Miners (NYSE:GDX) at 18.72 on 8/17/18
- Long-term Trend SPX monitor purposes; Sold long-term SPX 7/16/18 at 2798.43= gain 2.95%; Long 6/29/18 at 2718.37.
The bottom window is the Index Put/Call ratio (CPCI). When this ratio hits the upper Bollinger® band the market at least bounces. There are three times the market bounced after CPCI hit the upper Bollinger band then retraced back down and those times where are March, May and July. Market can bounce here but probably will not go far and most likely will at least tests the recent lows again. Could end up with a sell signal if market does bounce. Ask for 30 day trial. Follow us on twitter. @OrdOracle .
The top window is the McClellan oscillator and readings1.50 and the 3 MA of the Tick/TRIN ratio
We updated this chart from yesterday. The bottom window is the 18 MA of the Advance/Decline and above that the 18 MA of the Up Down Volume and both indicators broke to new recent highs and made higher lows as GDX was making lower lows. We went back to all majors lows in GDX going back to the January 2016 low and found that they all showed major bullish divergences like we are having now. I might point out that a more ideal signal for a long position is when the Advance/Decline and Up Down volume indicators both close above “0” and that has not happen here, at least not yet. The COT commercial report for gold published last Friday, showed that gold commercials are not now net long 6525 contracts; the last time the commercials where net long came back at the 2001 gold bottom. Long GDX at 18.72 on 8/17/18. New Book release "The Secret Science of Price and Volume" by Timothy Ord.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.