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 = acquire of seven.26%.
Monitoring Functions GOLD: Lengthy GDX on 10/9/20 at 40.78.
We up to date this chart from yesterday, once we stated, “The second window up from the underside is the weekly SPX/VIX ratio. A bearish divergence develops when the weekly SPX makes the next excessive and the weekly SPX/VIX ratio makes a decrease excessive (famous in shaded pink). Presently, the weekly SPX has made the next excessive together with the weekly SPX/VIX ratio, suggesting bullish divergence for the SPX. The underside window is the VIX, and readings beneath 17 counsel the market is in a trending mode; right this moment’s studying stands at 13.51 and stays bullish. Development seems up for now.” As we speak’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 out there. Indicators of a excessive are close to when SPX makes the next excessive and SPX/VIX ratio makes a decrease excessive, and thus far that has not occurred.
If a bearish divergence goes to indicate up, the chart above might first to show it. Up to now, no vital divergence is current, suggesting the SPX rally can proceed. We up to date this chart from yesterday, once we stated, “The center window is the every day VVIX/VIX ratio with a 2-period transferring common. VVIX responds sooner to market motion than the VIX, and this ratio can responder sooner when a market excessive nearing. Up to now, the SPX has made larger 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 larger 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 p.c, and the following larger window is the GDX 18-day common of the up down quantity p.c. 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 Japanese Time, tune in.
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