Inter-Market Views

Just for perspective, a few (mostly daily) inter-market chart views…

GDX/SPY firm uptrend, but over bought.

gdx.spy

GDX/GLD firm uptrend, but over bought.

gdx.gld

SLV/GLD stair stepping uptrend, over bought.

slv.gld

SIL/GDX; this one warrants a weekly chart as that his where the key element is.  SIL has finally made a higher high vs. GDX, firming the view of silver vs. gold, which in turn firms our view on inflation.  See?

sil.gdx

EEM/SPY is constructive.

eem.spy

INDY/SPY has up trended since bottoming in February.  India was one item I held firmly through the Brexit theatrics due to the Bombay Sensex 30’s bullish posture on long-term charts (updated each week in NFTRH).

indy.spy

Finally, GCC/SPY needs to turn up now to keep an inflationary view comfortably in focus.  Sure, the stock market can go up in an inflation, but commodities should go up better.

gcc.spy

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