Let's try something a bit different. Since it looks like silver has whacked gold (in ratio) the play could be on in the positive economic correlation universe for a while longer yet - even as RISK approaches the RED LINE, which we will of course be covering.So, I thought I would get off the gold ratios for a minute and look at SLV-SPY, or silver proxy-SPX proxy. It looks like silver could be making a bottom in stock market terms without having hit the 62% retrace, which in my opinion would have been a strong bottom candidate for the ratio. But so too could be the current bottom attempt.
This would probably be more bullish for the gold miners than if gold were leading as the HUI tends to follow silver more closely than gold in times when the general commodity bulls are running and there is speculation in the air. Like now, for example.
