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Further to my post of January 9, GOLD is poised to take the lead away from the SPX in terms of safe-haven money flow, while money has been fleeing OIL.
As shown on the following monthly comparison chart of the SPX, GOLD and OIL, the Balance of Power has shifted from buyers to sellers in the SPX on this timeframe.
For clues as to further weakness or strengthening of the SPX, please refer to my comments with respect the SPX:VIX ratio in my last post, which hints of further weakness. Furthermore, January’s candle formation on the SPX is a shooting star, also a bearish signal in the longer term.
Well, my life as a dork is complete now, as I got to meet Joel in person. Oh, and the sweater vest was deliberate, since I knew you folks wouldn’t have it any other way. I have now shaken hands with Elon Musk (1993), Steve Jobs (1996) and Joel Hodgson (2020). I can die now!