Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

The Ord Oracle May 23, 2023

by May 24, 2023
May 24, 2023
The Ord Oracle May 23, 2023

SPX Monitoring Purposes: Long SPX on 2/6/23 at 4110.98.

Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78.

Long Term SPX Monitor Purposes: Neutral.

Yesterday, we said, “We posted the TRIN and TICK closing readings on the chart that reached panic levels. Most of the panic readings were reached in the 405 to 410 SPY range, which, in turn, suggests support. The more panic in a region, the more fuel the market has for the next rally. Panic is present when the TRIN closes above 1.20 and the TICK closes below -200. We put the Fibonacci levels on the chart up from the March low. So far, the largest retracement has been near the 38.2%, which suggests the current sideways move is at the halfway point of the move up. If you do the math, that gives a target near 445 SPY range, which about 6% higher.”

Added to the above, we had support previously near the 417.50 range, which was the May high. There are more price highs near the 415 range, which is turn suggests stronger support. We noted the “Sign of Strength” through the 415 SPY level, which suggests a confirmed breakout of that level. Today, the SPY tested that level on lighter volume, which suggests support. The uptrend appears intact.

We updated this chart from last Thursday, when we said, “the middle window is the 2-period moving average of the VVIX/VIX ratio. This ratio is also for good for finding negative divergence near highs in the SPX. A negative divergence is present when the VVIX/VIX ratio makes a lower high while SPX makes a higher high. We pointed out the previous divergences on chart above with red arrows. What we like to point out is that SPX has moved sideways since February while the VVIX/VIX ratio has made higher highs, and we regard this as a positive divergence. It appears that the VVIX/VIX ratio leads the way for the SPX, suggesting higher highs will be seen in the SPX.”

Added to the above, the market is heading into Memorial Day weekend, with markets closed this coming Monday. Most likely, volume will drop as Friday approaches and validity becomes less. Not seeing signs of a worthwhile high here.

Tim Ord,

Editor

www.ord-oracle.com. Book release “The Secret Science of Price and Volume” by Timothy Ord, buy at www.Amazon.com.

Signals are provided as general information only and are not investment recommendations. You are responsible for your own investment decisions. Past performance does not guarantee future performance. Opinions are based on historical research and data believed reliable; there is no guarantee results will be profitable. Not responsible for errors or omissions. I may invest in the vehicles mentioned above.

0
FacebookTwitterGoogle +Pinterest
previous post
Hershey Stock Pulls Back: Now’s Your Second Chance
next post
The Tragic but Unsurprising Costs of Loose U.S. Weapons in Ukraine

You may also like

Bonds Are Now Beating Stocks While NVDA Goes...

October 27, 2023

The Most Important Chart to Watch During Earnings...

October 11, 2023

My Worst Call of the Year

December 24, 2022

These Sectors are Poised to Lead in Q2

April 3, 2024

Market Maker Manipulation on AAPL Has Been Egregious...

March 3, 2024

Are Trump’s 25% Tariffs a Game-Changer for Steel...

February 11, 2025

You MUST Be Aware of This Seasonality Change

September 2, 2023

The Gold Move that ETF Traders Were Not...

December 2, 2022

META’s Reverse Island – Two More Mag Seven...

April 26, 2024

How to Create Your Own Custom Multi-Timeframe Chart...

December 2, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rescissions: A Small but Welcome Step Toward Spending Discipline

      June 5, 2025
    • DAVID MARCUS: Why Navy ships should not be named for gay rights icons

      June 5, 2025
    • GREGG JARRETT: Biden, the ‘marionette president; and the case of the runaway autopen

      June 5, 2025
    • Trump Practically Bans Travel and Immigration from 12 Countries with Flimsy Security Justifications

      June 5, 2025
    • ‘He’s not a big factor’: Trump’s Senate allies dismiss Elon Musk’s calls to ‘kill the bill’

      June 5, 2025
    • Fears grow that Tata Steel could be excluded from Starmer-Trump trade deal

      June 5, 2025

    Categories

    • Business (8,147)
    • Investing (2,008)
    • Politics (15,523)
    • Stocks (3,127)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved