SPX/Gold ratio.. currently 1.59.. there is a historic sup/res...

SPX/Gold ratio.. currently 1.59.. there is a historic sup/res line at 1.52.. so maybe we are close to a dead cat bounce for US markets and a temporary headwind for gold.. though id more expect flatness as oposed to any major pull back




Aussie Miner to gold ratio (monthly candles)
still no break out for either.. BUT particularly in the last few months the ratio is outperforming the currency
my guess is its big players front running the break out by buying into the large and mid caps mostly and because they arent buying the whole XJO its not influencing the currency as much


XAUUSD
still broadly following the fractal of the previous cup and handle though has fallena behind it a little, perhaps just in time rather than degree of the move
that black dotted line potentially could be our next short term resistance line.. it would tie in with the SPX/Gold ratio dipping and having a dead cat bounce

my suspicion is the next inetrmediate top for gold would be driven by a rotation to energy and other commodities.. bit early to call where than might happen, but im still watching 3970 to 4k USD as a resistance line that it might occur at.
perhaps a stimulus program will be announced after US treasuries have been rolled over whihc will trigger the switch from precious to industrial metals


BCN.. a bit like the miner to gold ratio.. sitting under the breakout line
i get the feeling that when the ratio and currency breakout we will see explosive moves to the upside.. like the cat is out of the bag moment the capital rotation will be obvious to everyone