A quick snapshot of the sector that is mirroring the drunken party going on in the US stock market.
NFTRH 265 noted that gold is technically broken in stock market terms and the ratio of the S&P 500 to gold may need to blow off before any thoughts of lasting turnaround to current trends. The SPY-GLD ratio above measures a potential target for a reaction of some kind if not a bigger macro turn.
Meanwhile, HUI continues along opposed to the great broad stock bull after spending too many years in positive correlation. The price for that correlation is being paid now in the precious metals as this sector (especially gold miners) is investment worthy when it is counter cyclical, not running with Garth, Wayne and a world full of party animals.Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart/trade ideas or the free eLetter for an introduction to our work. Support free quality content; please disable AdBlock on Biiwii.com... and thank you! Add to SocialTrade