Gold/SPX Ratio Bouncing From a Logical Point

Not only did the Gold/Silver ratio recently hit a major support zone* (as shown in NFTRH 605) during this market sentiment rally, but so too did the Gold/SPX ratio drop to a level that would be a strong candidate to end the pullback (and the macro party) as Gold/SPX hit the up trending SMA 200 before making a big pop today. This is not macro … Continue reading Gold/SPX Ratio Bouncing From a Logical Point

3 Metallic Amigos

As usual, the counter-cyclical Amigo, the swinger Amigo and the cyclical Amigo tell their macro stories. Gold (counter-cyclical), which would benefit from a risk ‘off’ lurch by casino patrons, has held the consolidation and taken back the SMA 50. As such, the target of 1940 lives to fight another day. As I’ve mentioned before, the negative RSI divergence can be looked at as just that, … Continue reading 3 Metallic Amigos