"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, August 9, 2011

Gold-SPX Ratio... Target hit

A target it just a target, not necessarily a termination point.  If I could make charts terminate wherever I want, I would rule the world.  Instead, I just obey what the charts say and this one says it may be time for bully to come out and play for a little while and the barbarous relic to cool its heels in relation.  But this chart still remains really bullish for Au-SPX.  Just look at that monthly MACD.













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