SPX Monitoring Functions: Lengthy SPX 6/21/23 at 4365.69.
Lengthy SPX on 2/6/23 at 4110.98: Bought 6/16/23 at 4409.59 = achieve of seven.26%.
Monitoring Functions GOLD: Lengthy GDX on 10/9/20 at 40.78.
We up to date this chart from yesterday, after we stated, “The second window up from the underside is the weekly SPX/VIX ratio. A bearish divergence develops when the weekly SPX makes a better excessive and the weekly SPX/VIX ratio makes a decrease excessive (famous in shaded pink). Presently, the weekly SPX has made a better excessive together with the weekly SPX/VIX ratio, suggesting bullish divergence for the SPX. The underside window is the VIX, and readings under 17 counsel the market is in a trending mode; at present’s studying stands at 13.51 and stays bullish. Development seems up for now.” In the present day’s VIX studying got here in at +13.46. We’re displaying this chart once more as a result of the chart is related to what’s going on available in the market. Indicators of a excessive are close to when SPX makes a better excessive and SPX/VIX ratio makes a decrease excessive, and to date that has not occurred.
If a bearish divergence goes to indicate up, the chart above could first to show it. To this point, no vital divergence is current, suggesting the SPX rally can proceed. We up to date this chart from yesterday, after we stated, “The center window is the each day VVIX/VIX ratio with a 2-period shifting common. VVIX responds sooner to market motion than the VIX, and this ratio can responder sooner when a market excessive nearing. To this point, the SPX has made increased highs together with the VVIX/VIX ratio and, in flip, leans bullish. Final Friday, the TRIN closed at 1.46 and the TICK closed at -629, which is a bullish mixture and suggests the market has panic in it to drive the SPX increased short-term.”
Above is a short-term view of what to anticipate for GDX. The underside window is the GDX 18-day common of the Advance/Decline %, and the subsequent increased window is the GDX 18-day common of the up down quantity %. When each indicators are above -10 (famous in gentle blue), a rally in GDX is in progress. So long as each indicators stay above -10, the rally in GDX ought to proceed. I am on TFNN.com Tuesdays 3:30 and Thursdays at 3:20 Jap Time, tune in.
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