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

Future Retirement Success

Stocks

The Ord Oracle August 1, 2023

by August 2, 2023
August 2, 2023
The Ord Oracle August 1, 2023

SPX Monitoring Purposes: Long SPX 6/21/23 at 4365.69; sold 7/21/23 4536.34=gain 3.91%.

Long SPX on 2/6/23 at 4110.98: Sold 6/16/23 at 4409.59 = gain of 7.26%. Gain since 12/20/22=17.68%.

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

Our view remains the same; we said yesterday, “The middle window is the monthly SPX. The SPX is running into the highs of February, March, and April 2022 near the 4600 range, which is a natural resistance area and may stall the market. Seasonality-wise the market is entering into the weakest quarter of the year starting now and turning to October. Our view is that a trading range may develop with a resistance near 4600 SPX and support area near 4200. This potential trading range could last into October and develop a ‘Right Shoulder’ of a head-and-shoulders bottom, where the ‘Left Shoulder’ developed from February to April 2022. The ‘Head’ of this potential head-and -shoulders bottom lies at the October 2022 low. SPX was up five months in a row and August is one of the weakest months of the year and that combination could lead to a pull back. VIX remains relative low and still leans bullish. Don’t see a good setup yet.”

The second window down from the top is the SPX/TLT ratio. Markets always try to keep in balance and, when out of balance, it will go back to the norm. When the RSI for the SPX/TLT ratio trades above 70 (current reading is 82.10) the SPX was near a short-term high. We circled in red on the SPX chart when the RSI of the SPX/TLT ratio was above 70. With a current RSI reading of 82.10 on the SPX/TLT ratio, the upside for SPX would seem limited.  We have said that there is a possibility that the Bearish Engulfing pattern high of July 27 (4607.07) may be tested before a pullback begins, and that possibility is still present.

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
Granddad Russell, Grandma Retail and Grand Debt
next post
The Ugliest Agency in Washington

You may also like

Spot The Warning Signs of Bankruptcy!

March 15, 2024

Investor Lessons from the World Cup in Qatar

December 21, 2022

Should We Use Weakness To Accumulate NVDA Before...

October 22, 2023

What Bitcoin Is, and How That Has Changed

September 22, 2023

DP Trading Room: Bitcoin Surges!

March 3, 2025

Big Tech Earnings, Fed Meeting, Jobs Report: Will...

July 30, 2024

Can the Windowmaker Natural Gas Resuscitate?

September 8, 2023

Why Breadth is Bullish… For Now

July 29, 2022

NASDAQ NOSEDIVES, Down Over 2% At The Close!

October 25, 2023

DP Trading Room: How Bad Data From Major...

December 4, 2023

    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

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • 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