It appears that gold and the SPX has traded at an inverse and will continue to do so. If you see the chart correlations here it's pretty compelling. You can see a few things.
1. There's not much support
2. The gap today (circled) indicates that this could be a breakaway gap for gold/spy.....leading up to the "crash" trade.
3. There's a definite reliable downtrend here that has broken out again and targeting the 70 level....leaving a lot more room on the table.
Going to be interesting to see how this plays out.
Futures up A/H at the moment but that could change once Europe opens. I still feel a downtrend.
HEY another thing to note. My HST got upgraded by RW today....that'll take out some of the supply from the market. This is a great company and should be trading 50% higher at least.
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