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Top Advisors Corner

Tom McClellan: How Lumber Lost Its Mojo as Economic Indicator

by Tom McClellan

For years, the price of lumber futures has been a pretty good leading indicator for a variety of economic data, especially the series related to the housing market. But recent events have caused lumber to not be a good leading indicator. It is likely just temporary, and hopefully lumber will get back to being a good messenger about what the future holds. So we should not expect the data on U.S. housing starts in this week’s chart to echo lumber’s big blowoff top.  Housing starts data usually follow the dance steps of lumber prices with about a Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle March 19, 2019

by Tim Ord

SPX Monitoring purposes; Sold long SPX on 3/13/19 at 2810.92= gain 2.47%; Long 3/8/19 at 2743.07. Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96. Long Term Trend SPX monitor purposes;  Long SPX on 10-19-18 at 2767.78. The chart above is the VIX and the SPY. It can be a bearish sign for the SPY when both the SPY and VIX rally, and today marks the third day up for both. Today also marks the third day out of the last five days where the market ended up and the TICKs closed negative. A negative TICK close with the market higher will stunt the SPY Read More 

Top Advisors Corner

Mark Young: Wall Street Sentiment - A Top?

by Mark Young

In our last submission, we expressed our belief that the low was very likely in, even though we were still in a "Bear Market Condition" (which was going to take a bit, mathematically, to get out of). The excessive shorting via the SH, as well as the very high readings from our favorite "Bottom Spotter," the Relative VIX, as well as the obvious health in the financial system, all had us feeling fairly confident of the low. Still, we advised folks to watch for popular Buy (and even Sell) signals to start working out again, and, if they did this, it would be an early warning that we are Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle March 12, 2019

by Tim Ord

SPX Monitoring purposes; Long SPX on 3/8/19 at 2743.07. Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96. Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78 The VIX trades opposite the SPY. It's common for the VIX to lead (in the opposite direction) the SPY. So far, divergences between SPY and VIX have not shown up, suggesting that the current trend, which is up for the SPY, should continue. In the far right corner, there is a micro-window for the SPY and VIX; just “eyeballing” the price movement, it appears VIX is closer to the previous Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle March 5, 2019

by Tim Ord

SPX Monitoring purposes; Sold SPX on 2/12/19 at 2744.73 gain 1.36%; long 2707.89 on 2-8-19. Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96. Long Term Trend SPX monitor purposes;  Long SPX on 10-19-18 at 2767.78 We have updated this chart (which is the VIX) from yesterday. SPY is in an uptrend when VIX is < +16 and in a down trend when VIX is >+16; the close today was +14.77. SPY is running into resistance near the 280 level, which is the November and December 2018 highs, but is not backing away from those highs, suggesting that the market may “eat” Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle February 26, 2019

by Tim Ord

SPX Monitoring purposes;  Sold SPX on 2/12/19 at 2744.73 gain 1.36%; long 2707.89 on 2-8-19. Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96. Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78 VIX trades opposite to SPY and can give clues of what the SPY may do next. Back in October 2018, the SPY made a lower low and VIX matched its previous high and a bullish divergence for the SPY, suggesting a low.  In November-early December, the SPY matched its previous low and VIX made a higher high, suggesting SPY might make a lower low (it Read More 

Top Advisors Corner

W.H.C. Bassetti: The tipping point... nose up against resistance...

by W.H.C. Bassetti

http://schrts.co/VuskVtDx Weekly basis. A weekly basis chart dramatizes recent price action. There certainly is some drama in the chart -- 9 weeks of advancing prices. The upshot is essential drama. Price is nose up against important technical and psychological resistance. The price itself is shot with significance: 2800. Centenary numbers have what Gibbon called numen. This numinous character underlies market action, inhibiting advance and, when broken, acting as an impulsive force. For the investor, waiting is the game until 2800 Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle February 20, 2019

by Tim Ord

SPX Monitoring purposes; Sold SPX on 2/12/19 at 2744.73 gain 1.36%; long 2707.89 on 2-8-19. Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96. Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78 The top window is the hourly 100 period moving average of the tick. In general the tick rises and falls with the market. Tick readings below “0” are bearish and above “0” bullish. So market the 100 hour ticks have remained above “0” which implies the short term momentum is up. SPX may wiggle higher into the still resistance area near 2800 level (November and December Read More 

Top Advisors Corner

Tom McClellan: 50 Years Since Creation of the McClellan Oscillator

by Tom McClellan

It was 50 years ago in 1969 that my parents created what later became known as the McClellan Oscillator. So, this week, I thought I would share a little bit of that history and offer a look at how it was done back then.  My father Sherman McClellan is still alive and doing well at age 84, and I get the privilege of collaborating with him every day on our McClellan Market Report newsletter and our Daily Edition. My mother Marian McClellan passed away from cancer in 2003. The important part of this particular story is that the early work that they did required the Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle February 12, 2019

by Tim Ord

SPX Monitoring purposes; Sold SPX on 2/12/19 at 2744.73 gain 1.36%; long 2707.89 on 2-8-19. Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96. Long Term Trend SPX monitor purposes; Long SPX on 10-19-18 at 2767.78 Yesterday we said, “First upside resistance is last Tuesday’s high of 2739 and next higher resistance is 2800 SPX, which is November and December high.” We where thinking that we'd get to the 2800 level, and we may still, but in the very short term, a pullback is likely. SPX closed the day at 2744.73, just above the previous high of Read More 

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