SPX, Gold And GDX Technicals: 09_26_18

By Tim OrdETFsSep 26, 2018 12:36PM ET

www.investing.com/analysis/spx-gold-and-gdx-technical-092618-200345702

SPX, Gold And GDX Technicals: 09_26_18

By Tim Ord | Sep 26, 2018 12:36PM ET

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XAU/USD

-0.41%

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US500

+0.41%

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DIA

+0.35%

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SPY

+0.42%

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Gold

-0.18%

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GDX

-2.11%

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VIX

+6.23%

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SPX Monitoring purposes; Neutral
Monitoring purposes Gold: Long VanEck Vectors Gold Miners (NYSE:GDX) at 18.72 on 8/17/18
Long-term Trend SPX monitor purposes; Sold long-term SPX 7/16/18 at 2798.43= gain 2.95%; Long 6/29/18 at 2718.37.

SPY

Thursday and Friday of last week, the Volume on the SPY (NYSE:SPY) jumped over 30% from the previous day volume which implies short term exhaustion to the upside. Friday’s volume was higher than Thursday’s volume and most high volume highs are tested, suggesting that Friday’s price high will be tested again. The DIA was higher four days in a row going into last Friday, the SPDR Dow Jones Industrial Average (NYSE:DIA) closed higher at least once in the next five days 81% of the time. This condition suggests last Friday high will be tested again with a probability of 81% . The McClellan Oscillator remains below “0” and a bearish sign. The FOMC meeting announcement could produce the next setup. Follow us on twitter. @OrdOracle.

VIX

Above is the weekly VIX with its Bollinger® band. The Weekly VIX Bollinger band is pinching suggests a large move for the SPY is not far off. The bottom window is the “Bollinger Band Width” which is at its lowest point since January. The January period produced the biggest decline for this year thus far. If market does bounce and test Friday’s high a sell setup could form. Also remember, “market has been down 6 days in a row going into September 7 and the market been lower 10 of 12 times (83%) on average of 3% over the next 30 days”. FOMC meeting may have an affect on the market. Still neutral for now.

Gold Miners Bullish Percent Index

We posted this chart about a month ago. What it is is the RSI of the Bullish percent index. The Bullish Percent index measures the percent of stocks in the Gold miners index that are on point and figure buy signals. Worthwhile lows have formed when the RSI of the Bullish Percent index reaches below 10. This chart goes back to mid 2007 and shows the times when the RSI

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Central Banks

Interest Rates

Next Meeting

FED

5.50%

Dec 13, 2023

ECB

4.50%

Dec 14, 2023

BOE

5.25%

Dec 14, 2023

SNB

1.75%

Dec 14, 2023

RBA

4.35%

Jan 02, 2024

BOC

5.00%

Jan 24, 2024

RBNZ

5.50%

Feb 28, 2024

BOJ

-0.10%

Dec 19, 2023

CBR

15.00%

Dec 15, 2023

RBI

6.50%

Feb 08, 2024

PBOC

3.45%

BCB

12.25%

Dec 13, 2023

US 30	36,228.5	-19.4	-0.05%
US 500	4,600.3	-4.1	-0.09%
Dow Jones	36,247.87	+130.49	+0.36%
S&P 500	4,604.37	+18.78	+0.41%
Nasdaq	14,403.97	+63.98	+0.45%
S&P 500 VIX	13.12	+0.77	+6.23%
Dollar Index	103.740	+0.107	+0.10%

Crude Oil WTI	71.10	-0.13	-0.18%
Brent Oil	75.75	-0.09	-0.12%
Natural Gas	2.380	-0.201	-7.79%
Gold	2,010.80	-3.70	-0.18%
Silver	23.238	-0.038	-0.16%
Copper	3.7953	-0.0352	-0.92%
US Soybeans	1,315.50	+11.50	+0.88%

U.S. 10Y	4.277	+0.030	+0.71%
U.S. 30Y	4.353	+0.027	+0.61%
U.S. 5Y	4.283	+0.028	+0.66%
U.S. 3M	5.405	+0.007	+0.14%
US 10Y T-Note	110.06	-0.20	-0.18%
Euro Bund	134.71	+0.04	+0.03%
10-2 Yield Spread	-49.53	-4.85	10.86%

Apple	195.71	+1.44	+0.74%
Alphabet A	134.99	-1.94	-1.42%
Tesla	243.84	+1.20	+0.49%
Amazon.com	147.42	+0.54	+0.37%
Netflix	453.76	+1.76	+0.39%
Meta Platforms	332.75	+6.16	+1.89%
Bank of America	30.96	+0.30	+0.98%

SPX, Gold And GDX Technicals: 09_26_18

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