XAU v SPY : Epic chart..

This is a very important chart - the short term action can be seen in the broader light of a major bottoming process in XAU v-non precious metals stocks. Combine this with huge Cup and Handle formations on both XAU and XAG , and the tea leaves are telling us that there is a new player emerging in town, and the old ways are over. The charts say sell your non-precious metals stocks and buy PM and PM stocks - never a guarantee but as Lord Tennyson once wrote 'Ours is not to reason why, ours is but to do or die' - we do not need to figure out why the charts are telling us something, we simply need to recognise that they are telling us to buy precious metals and their stocks, and until they tell us something different, we must obey - so be it..

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