Everybody happy?

Well, I wouldn't get too comfortable in that stance just yet.  Gold-Silver ratio proxy GLD-SLV and Uncle Buck proxy UUP are merely on predictable pullbacks from 'over bought' status.  Bull wise guys will not tell you about these indicators beneath the surface. 

If you know whether or not the GSR and USD are done on the upside, then you know whether or not the current rally will have legs.  In my opinion things would have been more sustainable if we had gotten a real terror spike down to SPX 1020.  But we will see.  The Wizard broke the GSR down from its 'bottoming' pattern in the summer of 2010 with QE2. 

Is he of a mind to do so again?  Has sufficient pressure been applied to try to promote a QE3?  These are the great and eternal questions - to me at least.


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