The US dollar has halted while the Gold/Silver ratio has another day of slippage.
Because the relationship between these two (correlated or not correlated) and the direction they go when correlated is so important… maybe not to most market participants, but to nerds like me and others who want proper internal market signaling, we note this important market juncture, which will likely either see USD and the Gold/Silver ratio head down together (party time) or up together (refuge-seeking time), we watch.
Yesterday it was noted that USD was still spiking while the Gold/Silver ratio dropped for a test of its pattern top.
Uncle Buck Missing His Partner Today
Today Unc is at least pausing to think about it…
…while the Gold/Silver ratio continues to bore into its pattern top. I covered my silver shorts yesterday but the situation in gold vs. silver is far from resolved in silver’s favor. Still, it is a second day of downside. Hence, bears watching if you, like I, value these indicators.
For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. You can easily subscribe by Credit Card or PayPal (see all info and options). Keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar, or take it to another (intermediate) level with our free eLetter. Follow via Twitter@NFTRHgt.
*********
