Since 2018 the S&P500 is caught in a broadening formation, usually not a bullish sign. Yet the market keeps rising and is currently at the top of the formation.
As can be seen the Shiller P/E (teal lines) was initially decreasing a bit, but is now back to where it was three years ago and matches the S&P nicely in more recent times, indicating that recent price...
The correlation between real yields and gold price is well known, has strengthened since 2018 and in many ways works a lot better than e.g. the one with the M2 Money Stock. The (speculative) overshoot in gold in August 2020, very much like the one in August 2011 has corrected.
Assuming the correlation remains strong, further price action in gold will depend on...
Sugar looks like it is rolling over. If it can decisively push through the 200 week SMA (currently $13.55) I would reconsider. Until then, selling once it reaches $12.39
The period from July 20 up until now, minus some noise, looks quite a bit like one we've seen before, between May 14 and June 18. Betting that what happened then will happen again.
