Breaking News
LAST CHANCE for Cyber Monday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

The Ord Oracle: Bottom Forming in S&P 500, Expect Move In Gold Soon

By Tim OrdStock MarketsOct 06, 2021 09:24AM ET
www.investing.com/analysis/the-ord-oracle-bottom-forming-in-sp-500-expect-move-in-gold-soon-200604179
The Ord Oracle: Bottom Forming in S&P 500, Expect Move In Gold Soon
By Tim Ord   |  Oct 06, 2021 09:24AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
  • SPX Monitoring purposes: Sold Oct. 4, 2021 at 4300.46=near breakeven; long SPX Sept. 30, 2021 at 4307.54.
  • Monitoring purposes GOLD: Long VanEck Gold Minors (NYSE:GDX) on Oct. 9, 2020 at 40.78.
  • Long Term SPX monitor purposes: Neutral

NAAIM Index
NAAIM Index

More evidence that a bottom is forming in the SPX. Above is the weekly “National Association of Active Investment Manager” (NAAMI) chart. When the NAAMI's lower Bollinger® bands are touched (noted with a “0” or lower reading; bottom window) that means that the market has been near an intermediate term low.

The current reading is -.01 and at bullish levels.

Panic readings in the tick and TRIN may develop late this week or early next week to potentially set up the next bullish signal. Intermediate term bullish signals are present. In a neutral position for now. 

NYSE ARMS Index
NYSE ARMS Index

This is the week before options expiration week where whipsaws are common. The top window in the chart above is the 10 day average of the TRIN. Readings near .90 and lower can produce short term highs in the market and today’s reading came in at .90. If the market does rally when a 10 day TRIN <.90, the rally is usually weak and short lived. Two day TRINs with a reading of .62 below .75 are bearish.

An intermediate term low appears to be forming here, but the bottom process incomplete. Next week's options expirations should see a move up. We are looking for a bullish setup not far from current levels.

Pricing Inflation Index
Pricing Inflation Index

We should see movement in GDX soon as the Inflation/Deflation ratio Bollinger® Bands are pinching. Yesterday we said:

“The bottom window is the Bollinger Band width for the Inflation/Deflation ratio. When the Bollinger Band Width for the Inflation/deflation ratio reaches near 25 (current reading is 25.55), the market is do for a impulse wave to start.

The chart above goes back over 20 years and the red vertical lines show when the Bollinger Band width reached near 25. Some of the impulse waves were up and some where down. We have shown in our report over the last several days that the next impulse wave should be up. Don’t know what the catalyst will be to start the next impulse wave for gold but it should be fairly soon.”

The Ord Oracle: Bottom Forming in S&P 500, Expect Move In Gold Soon
 

Related Articles

The Ord Oracle: Bottom Forming in S&P 500, Expect Move In Gold Soon

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Solomon Lalani
Solomon Oct 06, 2021 5:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thanks for the detailed insights.  I really appreciate it
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email