With its daily chart fade last week and its monthly chart never having changed trend the Silver/Gold ratio is flipped over this week to reveal old friend the Gold/Silver ratio (duh, I know). It was one of 2 Horsemen (along with the US dollar) that worked well as a macro indicator pre-2011 (and pre-OP/Twist).
It actually still does work pretty well if you exclude US stocks, which have benefited from a dominant Goldilocks environment while precious metals, commodities and many global markets suffered. But it is time to ask new questions like ‘is the Silver/Gold ratio failing after never really making a bull signal?’ and if so ‘will the 2 Horsemen act as they did pre-2011 or deliver more of the same?’
Oh, and that is just a minor portion of a report that is full of actionable and more importantly, critical information at an important market juncture. It helped me out quite a bit to write it.
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