Tim Ord | TalkMarkets | Page 8
President at The Ord Oracle
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Tim Ord earned a Bachelor of Science degree as a Mathematics teacher from the University of Nebraska in 1973. He became a Stockbroker in 1977 and worked his way up to Vice President and Senior Option Principal in 1981.Tim Ord has over 25 years in trading experience. In 1988, using his own ...more

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Whither Goest The VIX And The SPY?
Tuesday’s decline broke below the last five days on near equal volume, which implies a valid break. SPY also closed below it 10 day average along with a high VIX close all of which suggests the down move may continue.
No Safe Trades Yet
There are a lot of similarities between now and 2008 (VIX both now and 2008 reached +80) and the odds point to a test of the 2008 lows. Also worth noting is that in all bottoms both minor and major the 10 day trin reached above 1.50.
Bullish Percent Index For The Gold Miners Index Has Generated A Buy Signal.
The RSI for the Bullish Percent index for the Gold Miners index closed yesterday at 22.39 and has generated a buy signal. These buy signals can last several months.
Charts Show A Bounce May Be Near For The NYSE Composite Index
Our point in this chart is that RSI momentum has reached a level where bounce can be expected in the NYA. Some 25 RSI levels came at major lows and others where trading ranges started.
Rally May Not Last Long
We should get signs that rally is coming to an end when the McClellan Oscillators approach the “0” level.
SPY Appears To Be Stalling
Today’s rally tested last Friday’s high on less than half the volume.
A Target To The 280 SPY Level Is Possible
In the up-trends SPY outperforms the VIX and that happens when this ratio is rising and in the downtrends, the VIX outperforms which in turn makes this ratio to decline.
Will The Market Move Higher Again?
The market is not set up for a larger pullback or at least not yet.
Minor Pullback Likely
Today’s bounce came on reduced volume suggesting the bounce may not last. The light volume bounce may be due to the FOMC minutes release tomorrow.
Bollinger Bands Are Pinching On Gold; SPX Pullback Imminent
The VIX has been making higher lows as the SPX has been making higher highs. The trend is up for now but tomorrow's Fed Day could have an effect on market short term.
Option-Expiration Next Week
The VIX remains below +16 and intermediate-term bullish for the SPY. Fun fact that April option expiration week is up 65.71% of the time.
Will The Market Stall?
Today the VIX matched its previous low and SPY closed above its previous high and a short term divergence. It's also a bearish sign when the SPY closes positive for the day and the Ticks closed negative.
Will SPX Test Its September High?
There is a possibility the current rally could continue to the September highs, but we will have to see what happens at the early March highs.
The Market Finds Footing
GDX was in a trading range in 2017 that spanned from 21.00 to 25.00 range. In 2018 it fell below the 21.00 support in mid-year and then closed above 21.00 in late December creating a bullish “Shakeout”.
Strength In The Tick
Next week is Option Expiration week which normally has a bullish bias and it appears it will be an up week. Most signals develop from Friday to Monday and Tuesday.
Running Into Resistance
Next week is Option Expiration week, which normally has a bullish bias; the week before (this week) can produce short term whipsaws.
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