This is a ratio chart of the S&P500 index compared to Gold . The risk off sentiment is reaching a very vivid extreme here, and like anything else, it trends with Time at Mode concepts.
I'm interested in monitoring it since we're very close to a projected target for it, and also, close to the time expiration of the last uptrend signal.
If we see a drastic turn once either (or both) targets are hit (time/price), we might be able to capture a great long term entry in this ratio.
Refer to related ideas for the monthly view.
Currently a profitable trade. (same as buying oil with gold, which I did take myself)
I'm flat atm, on those, but I am in correlated trades.