The chart below plots the ratio of the SPX vs. gold. As of mid 2011 that ratio had declined by ~90% from its 1999 highs, defining the opposing secular bear and bull markets for the SPX and gold, respectively, over…...
We became bullish on the Nikkei as far back as last June at the global equity / EZ-crisis lows and began to increasingly pound the table on that thesis as 2012 wore on as posts here and here suggest. Last December when the…
In the charts below the following noteworthy events are occurring: Mega-cap gold miner ABX is at 20-year support as well as its 2008 panic lows while its YoY is more negative than it’s ever been at -56% The ratio of the…...
Put this together yesterday, failed to get it posted. Anyhow, believe it’s time to over-weight this group again, as we did last summer before it was trendy to “buy Europe“. That call led to huge alpha being generated by being…...
The ratio of the DJ Electricity Index vs. SPX is plotted below. The ratio appears to have broken out from a bullish descending wedge pattern last week. A similar pattern formed b/t 2000-2004. When it completed and broke out, the…...
A few weeks back we plotted the Yen against various PMs in this post and suggested the latter had to “catch down” to the former given 1) they have tended to act as leading indicators for one another’s fair value, with…
A few weeks back when the metal stood at ~$3.50 we had a post on copper noting its technicals looked reasonably weak and if our read was correct, it had the potential to fall to ~$2. We update that technical set-up…...
Here’s a chart originally shown the other day comparing silver’s move from 1967-1973 vs. 2010-2014. The two share a good deal of similarity. If the pattern recognition is correct, silver might presumably begin to base in the $19-$20 area in the next few weeks,…...
Not all that bearish, at least in the context of history, when gold is in a bear market, according to SentimenTrader. In other words, public opinion can sour much further than it already has, and stay that way, when the…