A few interesting pictures ‘vs. SPY’…
Gold miners have risen vs. SPY since early September.
Treasury bonds, hated by absolutely everybody (except maybe readers of this website) in September have absolutely blasted off in relation to SPY with Mr. Powell’s deftly engineered risk ‘off’ operation.
Chinese Large Caps have maintained the intermediate uptrend vs. SPY.
Even the World is starting to bounce vs. the former Good Ship Lollypop.
Finally, we know gold has risen quite a bit vs. SPY because SPX/Gold is one of my macro Amigo indicators. But check out silver. SLV/SPY has risen strongly on the back of SPY’s tank job while silver just pretty much has hung around at a resistance level that has halted it lately.
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