2 Horsemen? [w/ edit]

Will USD and the Gold/Silver ratio ride together again?

[edit] With reference to the end of the post below, as several emailers have noted, Omicron is an anagram for Moronic. That sure adds to the funny factor. Maybe I knew it on a subliminal level and that’s why it cracked me up.

Well, the US dollar is riding and has been riding for all of 2021. The question being will its fellow horseman of the Apocalypse saddle up again?

Here is the state of USD (DXY), attempting to use target #2 at 96 as short-term support after breaking through it and getting bonked on Friday’s Omicron * hysteria.

us dollar

The Gold/Silver ratio has taken out the 50 day average after having looked pretty wobbly of late.

gold/silver ratio

I hate to chase news around, but as noted in NFTRH this weekend the market’s indicators, tolerance points and rotations should be a good guide. The above, when taken together, form an indicator of caution – for certain significant areas at least – if they continue to work together.

* I cannot help laughing at the name Omicron. I don’t know what it is about it, but it cracks me up. Maybe part of the humor is in how quickly they name these mutants. It’s like, here’s the new threat of world destruction… introducing Omicron! Take a bow, Omicron. omicron

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