![Closing the Loop on Japan & China](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/12/2016-12-07-Ratio-Nikkei-vs.-SHCOMP-Weekly.png?resize=150%2C150)
Closing the Loop on Japan & China
In the past few days I’ve detailed important inflection points in both Japan & China, at least as I perceived them. The only thing I didn’t do was throw up a ratio chart b/t the two region’s equity markets –…...
![Searching for the EM/Commodity Turn](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/12/2016-12-08-Ratio-PCAC-Index-vs.-DXY-Monthly.png?resize=150%2C150)
Searching for the EM/Commodity Turn
Below I plot the ratio of the PCAC Index (Producer Price Index – All Commodities) vs. the USD Index (DXY) over time along with a ~43-year support line dating back to 1973. While not at support, the ratio is very…...