SOME CLUES ON THE S&P 500? Gold vs S&P 500
Updated
This chart shows the spread between gold and the S&P 500. I think the probability of retracing down to the 618 level and moving higher toward target is reasonably high.
This implies the following:
1. Gold and the S&P 500 trade higher together, with gold taking a significant lead
2. Gold trades higher while the S&P 500 tanks
3. Gold trades lower but the S&P 500 tanks more than gold
Gold has been moving in tandem with the S&P 500 recently, so it's important not to immediately assume the S&P 500 will tank and gold will rise. I think right now it's important to be very open minded of what's possible (always important to be open minded about market outcomes).
Here is where things get more interesting...
Copper looks very similar to the S&P 500/Gold Spread:
I'd love to hear some thoughts on this.
This implies the following:
1. Gold and the S&P 500 trade higher together, with gold taking a significant lead
2. Gold trades higher while the S&P 500 tanks
3. Gold trades lower but the S&P 500 tanks more than gold
Gold has been moving in tandem with the S&P 500 recently, so it's important not to immediately assume the S&P 500 will tank and gold will rise. I think right now it's important to be very open minded of what's possible (always important to be open minded about market outcomes).
Here is where things get more interesting...
Copper looks very similar to the S&P 500/Gold Spread:
I'd love to hear some thoughts on this.
Note
Just hit the 618 yesterday... time to pay attention...
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