SPX to Gold ratio.. thats one hell of a head a shoulders forming
looking at the left shoulder peak and the middle peak, gold didnt realy start to make its run intil 2 to 3 years after the SPX turn (they did a little run but came back and then went for blast off)
going by those previous 2 lagging take offs.. you might expect gold to only start the big move from 2024 (but it could do a small move and come back first.
the big difference between the left and the right shoulder is, gold has been taking off since 2016.. 4 years ahead of the SPX/Gold peak rather than after it.. so that kind of throws that lag repeating idea a bit out the window.
also in elliott wave terms it looks like we are into wave 5 and maybe a parabolic move with a 5th wave extension.
ratio with Gold overlaid.
anyway, the point is if youre watching your goldies stagnate (as i have) just think of it this way.. we positioned a few years too early .. cant rewind that.. but look what is ahead in the next 15 years even if we only return to the neckline of that head and shoulders pattern. I think the biggest risk to gold in the coming decade of a depression is soveriegn risk.. govts stealing the spoils. thats where having a few ounces of physical is probably safer than miners but of course for less upside.
with all that in place.. time to start working on a veggie patch
SPX to Gold ratio.. thats one hell of a head a shoulders...
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