Real or... ?

This remains a hopeful blip in response to some very bearish stuff that went on in May and June until these indicators say differently. The USD, gold-silver ratio and ratio of investment grade bonds to junk (lower panels) are not broken and until they are and the market exceeds logical targets for a normal rebound, bulls reading more into this than bear rally are making a mistake. That is because the indicators below, if they remain constructive for further upside, will denote the draining of liquidity and speculative impulses from the markets.