Just a moderate priority internal look at the markets.
Let’s consider three indications for not only the precious metals and commodities/resources, but also much of the broader global markets.
This chart holds the US Dollar, Silver/Gold ratio and TSX-V/TSX ratio. Note that TSX-V/TSX (blue) has not opened yet on the Tradingview charting platform. But it is up another .83% this morning using Stockcharts.com.
The point being that while USD (DXY) is holding up, potentially to bounce again, and is supported (we’re talking in-day micro views here, so let’s not overreact) by a pullback in Silver/Gold. But TSX-V/TSX is still steaming upward.
So we’ve got mixed messages. But the bottom line is that trends are down in USD as it tries to base for a bounce, and trends are firmly up in the SGR and TSX-V/TSX. SGR is merely taking a normal and moderate pullback at this time.
So nothing has changed. But this update gives us the latest snapshot. If the day comes that USD rallies and the other two decline it would be time for extreme caution. Meanwhile, I guess…
