LONG-TERM RELATIVE RATIO CHARTS – Staples SECTOR

LONG-TERM RELATIVE RATIO CHARTS – Staples SECTOR

Beginning with this post I began showing the relative ratios of all US equity industries vs. the SPX across their entire history.  Posts will be grouped by sector, and each sector post will show all the relative sub-industries within it.  I’ve generally tried…...

Member only content: Login to view or Register
Long-Term Relative Ratio Charts - Consumer Sector

Long-Term Relative Ratio Charts – Consumer Sector

Beginning with this post I aim to show the relative ratios of all US equity industries vs. the SPX across their entire history.  Posts will be grouped by sector, and each sector post will show all the relative sub-industries within…...

Member only content: Login to view or Register
Where's Waldo?

Where’s Waldo?

In this May-18 post I discussed the significant implications – for both equities and bonds – of the bearish pattern that had emerged in the ratio b/t the SPX and 30-yr rates. In my view, that pattern was highly analogous…...

Member only content: Login to view or Register
Hand-in-Glove

Hand-in-Glove

As I recently detailed in this post, for whatever reason, the ratio of gold/silver and the Nikkei have been highly correlated across history.  The correlation has certainly broken down at times, but when the ratio makes big directional moves, it…...

Member only content: Login to view or Register
Nikkei Consolidation Finally Complete?

Nikkei Consolidation Finally Complete?

The Nikkei’s prominent Mar-Nov-12 peak and subsequent corrective/consolidation (A) looks an awful lot like the the recent Jan-18-current version (B), which I compare in the chart below. Via the analog, note the similarities b/t the respective periods’ corrections and consolidations.  Also note…...

Member only content: Login to view or Register
EM/SPX Approaching 50-Yr Support

EM/SPX Approaching 50-Yr Support

I plot the ratio of GFD’s EM Index vs. the SPX across history below. The ratio, including this week’s to-date ~290 bps decline, has us but a few %-points away from reaching 50-yr support This is a noteworthy development. The…...

Member only content: Login to view or Register
Gold/Silver Ratio - Confirmed August-1929 Style Break-Out & Cross-Asset Implications

Gold/Silver Ratio – Confirmed August-1929 Style Break-Out & Cross-Asset Implications

Below I plot the ratio of gold vs. silver.  August closed with a clean break above resistance dating back to the very early 1990s. A longer-term look at the ratio is even more revealing.  It shows that the bear cycle…...

Member only content: Login to view or Register
Gold Miners: Historically Asymmetric Long Opportunity?

Gold Miners: Historically Asymmetric Long Opportunity?

Below I plot the long-term ratio of the ratio of the FTSE-JSE Gold Miners Index (USD) vs. SPX along with a linear trend and its regression equation.  Data dates to the late 1800s. As you can see, price is well,…...

Member only content: Login to view or Register
Telco Equipment Industry Looks Very Bullish

Telco Equipment Industry Looks Very Bullish

Below I plot the S&P Telco Equipment Index back to 1980. Notice price has spent much of 2018 consolidating atop the key pivot congestion areas from 1997 (launched the parabolic run into 2000) and 2001 (launched the collapse into 2002…...

Member only content: Login to view or Register
Gold/Silver Ratio Very Close to Clearing Nearly 30 Years of Down-Trend Resistance

Gold/Silver Ratio Very Close to Clearing Nearly 30 Years of Down-Trend Resistance

In the chart below I plot the ratio of gold vs. silver on a monthly basis, a thematic I highlighted in this recent post. Since the ratio peaked in 1991 it’s secular impulse has been one of incessant weakness-to-sideways action amid…...

Member only content: Login to view or Register