SPX Monitoring purposes; Covered short SPX 1/31/17 at 2278.87 =.09% gain; Short on 1/30/17 at 2280.90
Monitoring purposes GOLD: Long GDX on 12/28/16 at 20.25.
Long Term Trend monitor purposes: Short SPX on 1/13/16 at 1890.28
Equity Put/Call ratio (CPCE) closed yesterday at .75. CPCE readings of .75 and higher predict a higher market averaging 1.3% in the next five days. Friday the Total Put/Call ratio (CPC) closed at .76 which gave a prediction for a chance of higher price in five days of only 36%. The pattern that formed from mid December to mid January could be a head and Shoulders bottom pattern. This pattern has a measured target near 131 on the SPY. Minor bounce is possible that could lead to a sell signal in the coming days. Covered short SPX = gain .09%, back to neutral.
The NYA is running into the 2015 top and finding resistance. The top window is the 5 day average of the Total Put/Call ratio (CPC) and readings below .90 are a bearish sign for the market (close is .92). The daily Total put/call ratio closed Friday at .76. Readings near .75 on this ratio suggests the market has 36% chance of going higher in the next five day’s, therefore a strong rally form here is unlikely. Market most likely will touch a new minor high in the next couple of days which could produce a bearish setup. We will keep our powder dry for now.
The bottom window is the Up down Volume percent for GDX with a 50 day moving average. A bullish outcome is expected when this indicator is above “0” (current reading is 12.88). Next window up is the Advance/Decline percent with a 50 day average. A bullish outcome is expected when this indicator is also above “0” (current reading is 11.97). The pattern that may be forming on GDX is a Head and Shoulders bottom where the Head was the June through January low and is now working on the Right Shoulder. This potential Right Shoulder may find resistance at last August high near 31.00 range and a pull back could materialize. We won’t get ahead of our self but will watch for signs of a pull back at the August highs. Long GDX on 12/28/16 at 20.25. For examples in how "Ord-Volume" works, visit www.ord-oracle.com.
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