SPY/GLD is at an… anyone? Bueller?
Yes, it is at an important juncture on the daily chart as it nudges the underside of the SMA 200 while MACD and RSI start to roll over.
FWIW worth (probably not a lot) I have the cuts and bruises to prove I have held SPY short since it first hit the 50 day average back in January. I have been a net bull, by far. But I would not mind a failure here by nominal SPY and especially in its ratio to gold so we can get the macro in motion again.
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