About meThe Prometheus Global Macro Fund CIO; politically minded, freethinker, reader, writer, behavioralist, stoic.
A multidisciplinary behavioural approach to global macro trading. Focusing on currencies, commodities, rates, L/S single stocks and their vol
Normalised charts give a lot richer insight into intermarket relationships than do the double Y-axes charts, as they don't auto-calibrate for the ratio of price moves between two assets and by doing so, don't show faux-correlations.
In the case of the copper gold ratio and the 10 year, this is certainly clear in the current regime.
After an improbable 13 down day streak, Silver is looking certain to break support. Originally GDX was leading the metals down, now the rest of the metals complex appear to be "catching down" as @mark_dow highlights. I have been short for some time as I prefer to sell highs when bearishly inclined, nevertheless, this could suggest a further extension... Which...
Platinum has roared through resistance at the edge of its recent distribution (as observed in the distribution on the left axis). Some of the classicists might call it an inverse head and shoulders. Whatever the pattern interpretation, it looks particularly bullish!