Big daddy weighs in (Gold-Silver Ratio)

As if its ears were burning, the daddy of liquidity indicators weighs in and says that if gold (GLD & SLV proxies used here because stockcharts.com no longer supports daily candle sticks for commodities) breaks current resistance vs. silver, things are gonna get a whole new shade of ugly.

Yet GSR is very short term over bought by the highly sensitive CCI.  MACD on the other hand looks stellar.  Implication?  I guess bulls can play for a little while longer but ultimately if the 200 day moving average is exceeded, the 5 level is immediately loaded, with 5.75 doable as well.

Okay dear blog readers, I am going to be light on the posting for the balance of the week.  It's summer and even geeky bloggers need to lighten up once in a while and have fun.  At least that is what the powers that be are telling me, and I'd better listen.


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