Just trying to give you data points that I think are relevant as they crop up…
In NFTRH 359 we put a lot of effort into looking ahead to a time when the Gold-Silver ratio (GSR) may find heavy overhead resistance. That time could be a signal on the next inflation trade as the more inflation-sensitive silver out performs gold.
Just a short FYI update. VIX, touched the top end of the 20 to 22 pullback target zone. This was accompanied by a bounce in the S&P 500 to 1988 and subsequent fade (+.23% at 1973.88 at time of writing).
We were roughly looking for SPX 2040 and VIX 20-22 as a potential bearish setup. VIX hit 21.51 earlier today.
Yesterday the S&P 500 closed once again within the range we have been watching, that includes the upside (1993.48) and downside (1903.07) parameters to a test of what we have called ‘Resistance #2’ at 2040 (Resistance #1 was 1975, which SPX is still dealing with on its bounce attempt).