Thursday Sept 6, 2018
Evidence continues to mount that stocks made their seasonal high at the end of August.
DJIA
I am writing at 11 00 AM CST but notice the sharp intra day reversal on the two hour chart.If that ended wave two up we should see a lot more downside action if a wave three basis the two hour chart is unfolding.
Gold silver ratio hits lighest level since 2008
Silver to Gold Ratio
The silver to gold ratio has actually not hit the same low as in 2008 but it is close.
And there is a lengthy article in today's WSJ on how the weakness in silver reflects world economic weakness. Such articles typically appear at market lows. Gold has held its rebound to $1,200 so far but needs a lot more to turn the trend up.
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