As you can see, the ratio peaked in 2016 and in the process of changing character. Changing from an uptrend where higher highs and higher lows were the norm to one where lower highs and lower lows are occurring. All is not completely lost for stock bulls as the ratio is in a sideways consolidation and has held its key horizontal support level. Watch out though, if that level gives way that would be a strong argument it’s time to hunker down into less risky assets.
Please follow and like us: I have written many times in the past about how the semiconductor index, SMH, is an excellent tell on the current strength of the US […]
Please follow and like us:Having been schooled by one of the greatest chart pattern traders ever (Peter Brandt), has given me a love and appreciation of the art. For those […]
Please follow and like us:Besides being interesting and helping put money into perspective, there are lots of stories and answers contained in this chart. The one that jumped out at […]
Please follow and like us: I posted a few months ago about the breakout in gold. It was so obvious it made me wonder whether it was going to turn […]