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Tim Ord: The Ord Oracle March 8, 2017

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: Sold GDX at 24.33 on 2/22/07 = gain 20.15%; Long GDX on 12/28/16 at 20.25.
Long Term Trend monitor purposes:  Short SPX on 1/13/16 at 1890.28 

 

Last Wednesday volume appears to have been climatic and put a stop to the rally that started in February.  The up gap that was produced last Wednesday has support if tested on lighter volume and the last several days had light volume.  If the gap than holds a rally should ensue to test the previous high.  The previous high (which is the gap day) had high volume and a test of the previous high on lighter volume will imply resistance.  Therefore a short term sell signal could setup of a test of last Wednesday high on lighter volume.  
 

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