A great way to monitor the stock market is to divide it it by gold.
Since the Presidential election on Nov 8, 2016, the stock market advanced 46% against gold into the October 2018 high, but since then has tumbled back down to only a 15% gain over the past 3+ years.
Violent setbacks are clearly evident on this chart and even reveals more of a triangle...
Gold in consolidation mode gearing up for its next move higher. Unlimited QE from the Fed + big stimulus on the way from the government should do the trick, it will likely stay range bound until then. Sit back, relax, and let the trade come to you.
GLD retraced to 50% and started moving higher from previous support. As per our previously posted weekly chart this ETF is likely to move higher. There is some fundamental support since recovery may bring inflation worries.