alice

Charts of Markets & Indicators

I am mobile today so please pardon the ramp down in posting here and at Biiwii.com and also the brevity of words written (maybe not such a bad thing once in a while?).  Here are some pictures I find interesting and worthy of consideration…

Silver is bouncing all over the place within its daily downtrend; whipsaw city.

slv daily chart

We often look at the (now wildly bullish) gold-oil ratio.  We less often look at silver vs. oil.  It too is in a bull phase.  What’s it mean so far?  Not much for precious metals fans, but sooner or later something is going to come out in the wash for mining investors.

slv-uso ratio daily chart

While the gold-silver ratio is easing over the last couple of days, in tandem with the market’s attempt at a short-term low.  Completely logical.  A warning; GSR is still constructive to resume rising.

gold-silver ratio

Palladium vs. gold as well, is easing from a still bullish chart.  This too is in line with a market bounce within an counter-cyclical trend.

pall-gold ratio

On to more conventional items, SPY is deciding between building a little bear flag or a bounce, as I expect.  There have been way too many articles in the MSM in the last week, trend following as usual.  In this case the trend they are following are prognostications coming literally out of the woodwork for a crash in the S&P 500.  So a short-term bounce for this and other reasons, continues to be preferred.  But that could be a bear flag as well, which could break at any time.  If today is just a hesitation within a bounce, I think it is wise to know your upside targets, because the market is bearish beyond the short-term.

spy

Let’s have a look at Euro-hedged Europe. HEDJ is similar to SPY in that it’s either bounce or flag, but the trend is down.

hedj

Finally, gold vs. various stock markets, still generally struggling to change trend.  An exception is Canada.

gld vs. spygld vs. hedjgld vs. dxjgld vs. ewc

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