SPX Monitoring purposes; Long SPX on 9/10/20 at 3339.19

Monitoring purposes GOLD: Long GDX on 7/8/20 at 38.62.

Long Term SPX monitor purposes; Neutral

Yesterday we said, “Last Wednesday the Tick closed at -268 and Thursday the TRIN closed at 2.45, both at bullish extreme and this combination have lead to short term lows.The 3 day trin reached 1.55 last Thursday and also at bullish levels.The top window is the VIX which trades opposite the SPX and leads the SPX in the opposite direction.Today the VIX closed at a new short term low and suggests SPY should trade at a new short term high soon. Possible upside target is the gap level near 355 SPY.”Added to above, today the VIX closed at a new short term low again and keeps the short term picture bullish. (SPY, SPX, VIX)

Yesterday’s rally produced a “Sign of Strength”.The middle window is the NYSE advancing issues to Declining Issues which came in at 4.48. Yesterday there where 4.48 stocks advancing to 1 stock declining, showing there where a lot of stocks carrying the rally. Next window up is the NYSE up volume to NYSE down volume which came in at .80 yesterday; showing that 80% of the volume between up and down volume came on up volume and a show of strength.The bottom window is the NYSE Advancing issues with 4 period moving average (blue line) and NYSE declining issues with 4 period moving average (red line);yesterday had a bullish crossover and remains bullish today.The top window is the McClellan Oscillator.Today’s Advance/Decline showed about +400 to the upside and should push the McClellan Oscillator back above “0” and a bullish sign. (NYA)