As it turned out, the ratio was only making the left shoulder of a H&S topping pattern that NFTRH also came to manage later. As it turned out, a lot of the disturbance in the ratio was due to Silver's blow off to 50 last year. SLW-SLV lost support levels (green lines) but has been slowly climbing back ever since spring of 2011 when the mini bubble blew out into the Euro crisis. Boy what a tout that was in silver.
Anyway, SLW-SLV is working its way back above 1.10, which is the neckline to the H&S. What's it mean? Hey look, no one indicator is going to give us a pot of gold. But it may be worth reintroducing this one going forward as another signpost along with the likes of SLW-RGLD and a whole host of others.
It's the invisible world of ratio indicators and their messages, which go unheard by most casino patrons. Hmmm, wonder what JNK-LQD is doing right about now? :-)