This is a monthly chart of the SPX measured in gold. We have a giant cup and handle forming on the monthly chart and its breaking out as I post this. Dont know where this will go but this is a giant pattern going back all the way to 2008.
Looking at the DJI priced in dirty fiat might give you the impression that we are close to all time highs. But if you look at the DOW priced in money that holds actual value then you soon realize that we are on the verge of breaking down from this giant head and shoulders pattern.