I have labored with this question for quite a while now. Would the Gold/SPX ratio hold support or lose it in favor of a fill of the February ‘fear gap’? Well…
…joy has broken out across the investment landscape because ‘yay! we can go to the movies again!!’ [AMC +60%, but I would not sit in a movie theater again if you paid me to, and it has nothing to do with COVID-19].
So the fear gap is looking to get filled. Casino patron gold bugs will make a big stink about these events, but gold bugs who knew that damn thing was a potential vulnerability will be glad to see the gap filled. By the way, that first kind of gold bug was the one lecturing us all as per this post from August.
Repeat after me as even I try to commit this lesson to memory after seeing it play out so many times… “When the gold bug generals tout loudly and visibly the reaction will ALWAYS follow sooner or later.”
Gold is fine.
For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed interim market updates and NFTRH+ dynamic updates and chart/trade setup ideas. You can also keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter @NFTRHgt.
