September 22nd, Tim Ord Interview on the Tom O'Brien Show - 2026
Watch on YouTubeVideo summary
In this segment of the Tom O'Brien Show, financial analyst Tim Ord provides a comprehensive technical analysis of the S&P 500 and the broader market outlook for 2026. He begins by examining daily and weekly charts, noting that the market is currently displaying signs of strength after testing previous highs, which typically act as support levels. Ord highlights a bullish trend close and increased volume as positive indicators, suggesting that the market has entered a trending phase. However, he also points out potential warning signs regarding momentum, specifically using the Relative Strength Index (RSI). With the RSI hovering around 60, Ord explains that if the rally stalls in this area without pushing higher toward 70, it could signal a failure to sustain bullish momentum, potentially leading to a bearish correction.
The discussion then shifts to gold-related assets, where Ord analyzes the Sprout Physical Gold Trust (PHYS) and the VanEck Junior Gold Miners ETF (GDXJ). He argues that PHYS is currently trading at a significant discount, historically indicating a buying opportunity when the premium/discount ratio falls below 2.25. Furthermore, Ord presents a compelling case for GDXJ outperforming its larger counterpart, GDX, by analyzing their price divergence. He observes that while GDX has been consolidating, GDXJ is breaking out of a thirteen-year trading range and making higher highs, suggesting that junior gold stocks are leading the sector. Ord explains that as the market matures over the coming years, smaller-cap junior miners often exhibit greater percentage gains compared to larger established miners, a dynamic he believes is currently unfolding.
Looking ahead, Ord predicts a significant rally for the gold sector, estimating that GDX could potentially double in value over the next year, with GDXJ likely performing even better on a percentage basis. He advises investors to monitor the ratio between GDX and GDXJ, noting that a declining ratio indicates that junior miners are outperforming their larger peers. Ord expresses confidence that this current rally, which he traces back to 2024, has longevity similar to the strong bull market seen in 2000, where gold stocks significantly outperformed the S&P 500. He concludes by encouraging viewers to consider adding junior gold stocks to their portfolios, particularly those under one dollar, as they appear poised to lead the next major impulse wave upward, potentially lasting for several years.
Read the full video transcript
Hi everyone, Basel Chapman sitting here
for Tommy O'Brien. This is the Tom
O'Brien show and in this segment we're
going to have Tim OD and most
importantly let me just say Tim or is
from Oracle. Uh let me just see if Tim
is here. Hi Tim, are you there?
>> Yeah, I sure am. And uh I can give you
my website. Uh ww uh it's
ww.orgenoracle.com
o rdenoracle.com
and my email address is tim
orordheorleacle.com
and also have a Twitter uh feed which is
OOracle. So that's how you get a hold of
me. Um so I'll answer emails and
subscribe. So let's take a look at the
market.
>> Just as you're about to start them, I
had a question. So I don't want you I
don't want to interrupt anything that
you're about to say. I just if you can
include it in your thinking and the
question was if I can find it here.
Please ask Tim or the GDXJ
should out should it will it outperform
the GDX during uh his GDX uh possible uh
double top prediction here. So anytime
you can uh include that that's that was
the question.
>> All right. Uh whether GDXJ will
outperform GDX. Yes,
>> that's what the question is.
>> Yep. That's the question. But including
just as you're going along, you don't
have to stop for that.
>> All right. Uh we'll start with the S&Ps
and we'll answer that question when we
hit uh GDX. But anyhow, here's the um
this is daily SPY. Uh the bottom window
is the VIX, not the S&P VIX ratio, but
just the VIX. And you can see it's
almost hitting a new low here. And we're
almost touching a new high. We haven't
obviously this this high right here. Uh
we haven't quite touched it yet, but
we're we do have a sign of strength off
this low. You see a big jump in volume
here. Kind of the same thing we had back
in uh late July, early August. You had a
sign of strength through the previous
highs. Uh the market uh went back and
tested the previous highs which should
be support. And normally when support is
hit, you usually get pan and ticks and
trend. That's exactly the day of the
low. That's what we had. We had a trend
close at 1.71 and we had a tick of 784.
That's a bullish signal. Uh then right
from there we got a sign strength to the
upside. So on a daily time frame looks
good. The weeklies uh the top window is
the weekly S&P. Uh the bottom window is
a VIX. Um anything below minus7 usually
that's happens in a trending market.
Next higher window is the SPIX VIX
ratio. I kind of developed a a trend
following method using a weekly S&P.
Now, when the the green area here is
when both these indicators, the S&P VIX
ratio weekly and the S&P uh weekly are
above the mid Ballinger band. And that
means everything's clear. We have an
uptrend.
When it's in yellow, like here, uh the
S&P weekly is above the mid Ballinger
band, but the S&P VIX ratio is below the
mid Ballinger band. Sometimes they can
lead to tops. This one did not. Uh
apparently the VIX came back up and
closed above the mid Ballinger band
while the S&P was above mid Ballinger
band. So the trend continued, you know,
looks like a couple of months more. went
yellow again in basically January,
February.
Uh that's when the S&P fell below the
mid- ballinger band again. And finally
right there uh is a sell signal uh where
the S&P fell below the mid Ballinger
band and now we're still above it. Uh on
a midterm scale, the weeklys uh are
above the mid Ballinger band uh and the
uh S&P fix is above mid Ballinger band.
So weekly time frame looks good on this
next on this uh recent rally off the
lows. This is the Zwag breast thrust
indicator and the bottom window uh is
the uh is it this window down here uh
the Zwag breast thrust indicator is
advanced decline or is actually
advancing issue over total issues with a
10day moving average and it has to go
from 04 to 6 in 10 days or less. We did
hit 04
um September 17th I think it was. I have
to go back and look but just recently it
did hit below 04. So now uh has to rally
I think to um September 29th I think is
the date for 10 days and we like to see
the wagon breast stress indicator get to
6 around September 29th or before and if
we do that would be an all clear signal
for immally to begin and all these blue
area or all these pink areas are times
when the zag breast thrust indicator was
triggered the ZBT there's one failure
here. It came at a high. Uh but it
usually comes off low as you get it
triggered. So we're seeing if this one
gets triggered or not. It may or it may
not. Um if if ideally we like to see the
current rally continue and if it does,
this thing most likely will be
triggered. Uh that's one indicator I'm
kind of looking for for an imminent term
type bullish market to continue. Uh
another one is the uh momentum. Momentum
is really important. Normally momentum
in the market peters out at the top. So
the rally just doesn't have ump to keep
going and and the RSI kind of measures
momentum. So these these areas here are
times when the RSI failed around the
plus 60 level and the top window is a 14
period RSI when I made this chart is
right smack at 60 59.28.
And so for this, so if we stall in this
area right now and the market doesn't
really make any highs or you know it
fails to continue not to rally from
here, then this could this indicator
could get triggered. That's
momentum to the upside is is uh uh
lagging, I guess you might say.
>> That would become a sell signal if it
was triggered.
>> Yeah. If if it fails, it fails right
around right on this area. We're right
right around 60 right now. The last high
came in at 67. Uh it managed to push
higher. Uh but a lot of times the
failures come around plus 60. So if a
market quits rallying right from here,
the RSI will not go much higher than
where it is right now because to get the
RSI above 60, you know, preferably up
around 70 or even higher, the market has
to rally. Uh so if it does rally then
from here then that would be a a bearish
sign but right now it's too soon to say.
Uh we just you know we had a big shot of
strength off the low. Um we're on RSI
plus 60 at least we're here. The market
would have to continue to rally to push
it higher. Get around plus 70. Normally
that's an all clear signal that the
market is back in a bull phase. So,
we'll see how that happens. Um, you
know, over the next several days, you
know, if we uh we don't rally from here,
that would be kind of a bearish sign.
So, we'll have to wait and see. But
momentum wise, we're okay, but the
market needs to keep going for if cells
are going to develop absurd
coming up with the S&P for this
particular segment. Folks, we're going
to be I'm sure you're on your on the
edge of your seat waiting for the next
segment because we're going to talk
about gold. Correct.
>> Yep. And
we'll be back in a moment folks. This is
the Dow is now down only 65 SP up 1200
champions sitting here with Tommy
O'Brien with Tim Odd. We'll be right
back
with a from Oracle. A fabulous
discussion we just had very detailed
explanation, what's working, what be
looking for. And uh Tim, you want to go
to the GDX now?
>> Yeah. Yeah, we'll go to the GDX. Uh the
this is the um premium discount for the
Sprout physical gold trust. Uh so you
buy this gold trust right now. Uh so
it's a physical gold trust. So they
actually give you gold and they store it
for you. But any uh I went back, this
chart goes back to um late 2000.
Looks like about 2020. So it's got five
six years or six years or better in it.
and I mark the times uh when this ratio
when the uh discount is 0.2 minus 2.25
in other words you're buying physical
gold at a discount of 2.25 or lower um
the GDX is is this window down here and
this is a premium discount ratio here
and if you go back in history every time
you bought it when the discount was
below 2.25 25 the market was at a low
and that's what all these red lines this
blue area here when it stayed below 0.25
and that was a major low 2023 that was
the impulse started the major impulse
wave up because that was the major low.
Well, we've been below 0.25
which is basically this line right here
uh for
uh quite a while. Even though the market
kind of wiggled down, uh it still stayed
below 0.25. The last nice reading is
updates on the close is 2.39. Still in a
buy area. So according to this chart, we
did pop up above uh 2.25 here. I know a
few days ago for about a week or two,
then it fell back down. So probably
we're ending the consolidation right
now. Uh and so we're we're still in the
buy area as of yesterday's close. So Can
I just Can I just clarify this is Am I
correct? This is the PH YS, right? Is
the symbol.
>> Uh, yeah. P H Y. There it is right
there. It's up in here. PH Y S P R E M
physical premium I think is what it's
called, which is the Sprout Physical
Gold Trust uh premium discount. That's
how to get this discount.
>> Good.
>> So,
>> okay. Good. No, that's good because we
actually own the PHYS which is SPR
physical gold units has pretty much the
same chart and yeah so could you
continue? I just want to check the on
the symbol. Thank you. Thank you.
>> All right. Uh here's the uh GDX monthly
chart. So anyhow the monthly charts rule
the weekly charts weekly charts rule the
daily charts daily chart work you know
rule the day the hourly and so on down
the line. So you you want to look at the
monthly charts first. make sure you're
on the right side of the market on a
longer term basis. And this is just a
real simple chart. I I'm a big volume
steady guy and it works really well. And
anyhow, back in March of this year, you
had a decline off of a high and you had
a big uh big shot up in volume. Then
nearly normally high volume lows are
always tested and we did test that in
June. But if you notice we close below
that high of March. So when you break
below a previous low and close below a
previous low and lighter volume, it
implies a false breakout to the
downside. At some point when you close
above that March low, it'll give a buy
signal. Well, even July you went down to
lower lows, but look what the volume
did. So now you broke the June low on
much lighter volume. So a close above
the June low will create the buy signal.
Well, you actually did get the buy
signal back in the 80 area. I didn't get
the exact bottom. I did pretty good, but
so anyhow, so you test previous low. Now
you have to have a sign of strength and
actually this low here closed below the
uh June or closed above the June low
triggering a buy signal. So the close of
the month of July closing above the June
low gave you the buy signal which is
right around 75
somewhere in that I was actually a
little bit higher on on my trading but
anyhow after that you have to have a
sign of strength off that low and a sign
of strength should be equal if not
higher than the previous down. Well the
previous down was this day and if you
notice the volume was basically about
equal.
So that's a sign of strength. So that
was a confirmed breakout and reversal to
the upside. You have to have a sign of
strength off that low. Now we're doing
something right in here. But this is
just a mild consolidation. I don't think
this is no top of any consequence. But
we did the the July low was a major low.
We had a sign strength off that low. And
now the next impulse wave to the upside
has already started. Will it last two
years or longer? Possibly. I don't know.
But, uh, on the bigger time frames,
here's what's going on. Let me get to
this chart. I keep showing this chart,
but the the bottom one is the monthly
GDXG ratio. And this chart goes back to
2005.
And if you notice at tops, this ratio
falls where the S&Ps or GDX rather still
makes higher highs.
divergence. Um, we're not h we're
actually having the opposite here. If
you notice, we're breaking out of a 13
year trading range uh give or take. It
looks like a 2 to 0.1 and we're breaking
out of this trading range right here
right now. And we're already making
higher highs on this ratio where GDX has
not made a higher high. That implies the
GDX yearly ratio leads GDX.
So, it's already making higher highs.
That suggests GDX also make higher
highs.
>> That's a very nice indicator. Very good.
>> Yeah. Yeah. So, uh so we're we're going
to at least go back up to the previous
highs which is up around 117. Not sure
what will happen there. We have to wait
and see. You know, we could build a
consolidation before we move higher.
Don't know. But as this market matures,
the seniors take off first. They lead
the market uh to higher highs and the
juniors do respond but not as strongly
as a as a market matures. Then GDXJ
should start to outperform GDX. And I
think that's what's happening next on
this current rally. Actually, I did for
my own portfolio, I probably added
probably about 15 or better uh junior
gold stocks. So, I'm talking penny
stocks, the ones are under a dollar, and
those are those ones are starting to
outperform the bigger ones right now.
So, what comes next? Uh, GDX will go up
tremendously cuz I think will double
over the next year, but GDXJ I bet will
do better percentage-wise in GDX. And to
prove that point, you can actually do a
ratio. You can do GDX to GDXJ.
When that ratio is rising, that's just
GDX is outperforming GDXJ. If it's
declining, then GDXJ is outperforming
GDX.
>> And if you go forward, I bet uh that
that ratio will decline. Uh both will go
up, but GDXJ in my opinion will go up
much faster. So to answer the guy's
question, the place to be uh is in gold
stocks, but especially uh in my opinion,
junior gold stocks should outperform
GDX. But both of them are do
tremendously well cuz this is still this
is this rally I think that has started
back in 2024
has another 10 years to go. This is
probably going to be similar to 2000 uh
2000 where gold stocks did very well and
the S&Ps did not.
Oh, that is fabulous information, Tim.
That's just a wealth of information. I
love this G the GDXJ on a percentage
basis today is is better than the GDX.
Very good.
>> Thank you very much. So, uh we will see
you again on Thursday, folks. This is
Tim Ward. Go check out Tim Oracle. Yeah,
TFN. He's done some fabulous webinars.
Check them out. Thank you so much, Tim.
We'll see you soon.
>> All right. Talk to you then. Thanks.