On a Relative Basis, Gold Miners Face Resistance
The chart below plots the ratio of Arca Gold Miners Index vs. the SPX. From 2001 to August 2011, the ratio rose to 1.60 from ~0.15. This means gold miners as a group out-performed the SPX by a factor of…
1986-1989 = 2010-2013?
I wanted to officially catalog this comparison on the site instead of just communicating about it via email and also provide some granular detail on where the market may decline to. As you all know, it seems like the parallel…...
Are Market Internals Weakening?
The chart below plots the SPX along with the ratio of NYSE advancing issues vs. total issues. As you can see in region (A), the ratio has put in a succession of lower highs and lower lows over the past…