Beautiful simplicity! SPX could easily drop 27%+ while everything else freezes, and more likely some people will freeze while uranium will rise. SPX could drop even more and will likely languish in the mud at best.
Badcharts
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@Scorpions99, I see this as capital flow shifts. You can overlay uranium miners to prove this, as they track this ratio. Whether spx goes down to drive this ratio up, it means capital flows are leaving spx to go elsewhere.