Monday April 2, 2018
As we mentioned yesterday, Carl Swenlin's indicators only had one sector left as a buy and so down we go.
The ratio chart of gold miners to the SPX is certainly worth watching. If it breaks out the miner indexes ran up about 150% last time.
The ratio is at least challenging the 34 week EMA. We need a cross over for the 13 across the 34 to be fully confident.
Silver SIL has been correcting for over a year.
This is a long basing period. Money never sleeps. The drop in stocks has managers looking for the next bull market, I expect it to be in gold and silver.
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