USD (DXY) is back above the neckline.
Gold/Silver ratio never did break down and is now ticking a new high for this cycle.
My lean is 60-70% toward the inflation/reflation trades, but the signaling above is not inflationary in the least. So depending on this and other indicators the lean may have to be adjusted.
Just an FYI view of the 2 Horsemen of (would-be) liquidity destruction. As noted previously, a rise in USD and GSR together usually hits the precious metals first but if it persists it would start to affect other areas as well, likely starting with commodities/resources.
