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The Ord Oracle Daily Commentary
Above is the 10 min. chart of the SPY. The first of June the SPY broke above the 93 level (and noted at the time of the 6/1 breakout that it was a false break because volume did not confirm) but failed to hold that high and fell below 93 and created a bearish “Upthrust”. The SPY could be...
The Ord Oracle Daily Commentary
At the Highs in the SPY in earlier June the New Highs New Lows indicator was making a bearish divergence with the modest rising in the SPY. Also the McClellan Oscillator was producing a bearish divergence along with the McClellan Summation index. Most momentum indicators have turned down, which...
Proving the Point!
In Monday’s edition we stated that both the IYE and XLE had proved the point and if you were so inclined to be short would be a good position. We show those in the examples today. The more you listen to the news the more you will be wrong, especially in commodities. There is always the big lie...
The Ord Oracle Daily Commentary
Over the last couple of weeks there have been several divergences showing up. Annual new highs new lows ($NYHL) made lower highs as well NYSE McClellan Oscillator made lower highs as Spy made higher highs. The NYSE McClellan Summation index did not confirm the breakout of June 1 when the SPY...
The Ord Oracle Daily Commentary
We wrote this commentary before the close today and estimated the volume on the SPX on the chart above. Today’s decline did break below the previous lows and tested the gap area on lighter volume. We would have rather seen the lows and the gap broke on at least the volume that occurred on 6/1...
The Ord Oracle Daily Commentary
Today the Spy traded above the recent highs set over the last couple of weeks but failed to hold these highs and volume also shrank. The bulls had the stage to run the market higher but failed. If a market can’t hold the previous highs, it will reverse and attempt to take out the previous lows....
The Ord Oracle Daily Commentary
Above is an interesting chart. The blue chart inside the SPX chart is the ratio of the Nasdaq volume compared to the NYSE volume. When Nasdaq volume surges compared to NYSE volume then a pull back is anticipated in the S&P. Over the last couple of days the Nasdaq Volume compared to NYSE Volume...
SPY and SPTGD
The SPY broke (gapped) above the previous high of 5/8 on lighter volume and suggests a false breakout to the upside. Today the SPY pulled back and tested the gap level on lighter volume and implies the gap has support. This could mean that the SPY may attempt to test yesterday’s high again for...
SPX and XAU
Over the last couple of days the SPX has been testing resistance levels of the 200 day moving average and the January high and doing so on decreasing volume and a bearish sign. Also the SPX jumped above the 5/8 high on 28% lighter volume and implies a false break to the upside. A close below...
Proving The Point!
Today: We are getting the best signals since the March lows and its saying that the rally is over. We had a lot of stocks go above previous swing points and large high volume gaps with light volume. The sector that is the weakest is small cap as per our examples today. I suspect this shows that...
SPX and GDX
We were looking for a test of the 5/20 high (92.80) or 5/8 high (93.22) as these high occurred on high volume and high volume high are usually re-tested. These highs were tested today and volume came in 28% lighter and suggested today’s surge and break out was a false breakout. For a confirmed...
Proving The Point!
Today: We have showed three gold stocks this week that show signs that their rally is over. When everyone says your hurt you should lie down. When you get this many stocks in a sector all telling the same story you better pay attention. The warning signs are here.There are hundreds of stocks...
Weekly SPX and RSI
It appears in Intermediate term that the market is building a top and we are short the SPX at 883.82. Usually high volume highs are re-tested and if the re-test comes on lighter it would generate a bearish signal. On 5/20 a high volume high occurred and we are looking for a test of that high....
SPX and GDX
The above chart shows were support and resistance is on the SPX. Resistance lies at the upper Bollinger band (near 930) and at the 200 EMA (near 947). Support lies at the Red trend line which came from the January and February highs near 880 range. The MACD is currently on the sell signal along...
Bottom in SPY? By Tim Ord
The week of March 2 the SPY broke below the 11/21 on very light volume.Breaking a previous low on lighter volume implies a false break to the downside and some point the market should reverse and close above the previous low.Last week the SPY closed above the 11/21 low and a bullish...
