The SPX/ Gold ratio is looking like the rally in equities may be hitting it's head on some resistance.
The price action is driving closer towards the overhead trendline of the descending triangle pattern, this will be an interesting level to watch, as a rejection at these levels would suggest an easing in equities and a relative gain in gold.
It is my personal belief that a easing in equities would be relatively short lived, barring any abnormally negative news, as the markets are clearly in "liquidity driven mode."
In any case, it is worthwhile watching both gold and equities, as this ratio is suggesting that we may be about to see a Q1 selloff, accompanied by a Q1 rally in gold.
The price action is driving closer towards the overhead trendline of the descending triangle pattern, this will be an interesting level to watch, as a rejection at these levels would suggest an easing in equities and a relative gain in gold.
It is my personal belief that a easing in equities would be relatively short lived, barring any abnormally negative news, as the markets are clearly in "liquidity driven mode."
In any case, it is worthwhile watching both gold and equities, as this ratio is suggesting that we may be about to see a Q1 selloff, accompanied by a Q1 rally in gold.
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