Ratio of Copper vs. Gold at 30-Yr Support, Last Reached Pre-Crash Apr-87, During GFC Jan-09

Ratio of Copper vs. Gold at 30-Yr Support, Last Reached Pre-Crash Apr-87, During GFC Jan-09

In the chart below the ratio of copper vs. gold is about to hit 30-year support. This ratio has been touched only two other times over that 30-year history – once in Apr-87 prior to the Aug-87 equity market peak…

Multi-Decade Break-outs in Gold vs. Various Industrial Commodities Signals Major Monetary System Change Afoot

Multi-Decade Break-outs in Gold vs. Various Industrial Commodities Signals Major Monetary System Change Afoot

Proportional end demand by the industrial sector is exceedingly larger for crude (all), copper (all) and silver (~50%) vs. gold (~10%-15%). Keep the above in mind when looking at the three charts below which plot ratios of gold vs. all three aforementioned…...

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Copper May Still be the Nikkei's Rosetta Stone

Copper May Still be the Nikkei’s Rosetta Stone

One of the first ever posts I put on the site re: the Nikkei was this one where it was suggested that 2012 for the index was analogous to circa 2002 for gold, with the point being the former was…...

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Working Thesis for 2015

Working Thesis for 2015

It’s that time again.  Time to put pen to paper and make our best attempt at crystal-balling the upcoming year.  If we had to name 2015 or give it a theme we’d probably call it “The Year of Capitulation”.  By…...

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Long-Awaited Copper Breakdown?

Long-Awaited Copper Breakdown?

I’ve talked about copper’s bearish technical pattern for quite some time including in March of this year and as far back as April of 2013.  Very recently we  highlighted it again. The price action this week has been interesting with weakness seemingly accelerating,…...

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How Does Copper Not Fall Significantly from Current Levels?

How Does Copper Not Fall Significantly from Current Levels?

Here are some looks at copper below. The pattern this thing has put in place since it peaked in ~2011 is one big, nasty descending triangle b/t lines (1) and (2). I consider those to probably be the most reliably…...

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Nikkei Needs to Successfully Test Old Resistance as New Support

Nikkei Needs to Successfully Test Old Resistance as New Support

On a shorter-term basis I believe the Nikkei needs to successfully test its recent break-out as new support. For me, that break-out is less about the 16K level, or long-term trend resistance dating back to 1990, and more about the…...

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Time Spent Waiting

Time Spent Waiting

It’s been approximately five months since we became ardent supporters of the idea that the Nikkei, following its initial sprint rally from fall 2012 into its May 2013 peak at 16K (an initial rally which we foresaw well before anybody…...

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Key Breakdowns

Key Breakdowns

I’ve got two simple technical charts below.  One is the SSEC and the other copper, both on a weekly basis. The SSEC is on the cusp of breaking down from major long-term patterns including the flag formed b/t lines (1a)…...

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Adding a Wrinkle to the Nikkei

Adding a Wrinkle to the Nikkei

On the site we’ve repeatedly discussed the Nikkei’s massive rally from fall 2012 to May 2013 which, over the course of ~six months, totaled ~85% and how among other major asset classes we can find only two other examples of…...

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