SPX500/XAUUSD: Stocks/Gold ratio warns of a top
Updated
The S&P500 and Gold ratio is turning down sharply today, if we break yesterday's low, or break today's low on close, during tomorrow's session, we could see a sharp drop in equities, as evidenced by the shift in sentiment the ratio shows.
I'd reccomend closing equity longs, or even shorting DIA or SPY and pair it with GLD longs, basing size on 1 month ATR on each leg of the pair.
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Cheers!
Ivan Labrie
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We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
I'd reccomend closing equity longs, or even shorting DIA or SPY and pair it with GLD longs, basing size on 1 month ATR on each leg of the pair.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Note
This chart will be really interesting in the next few days.
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