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Gold and Silver are kind of like Elon Musk and Kimball Musk. They’re related, but one of them gets almost all the attention. Let’s give Kimball, I mean silver, a bit of screen time.
Here is the Dow Industrials divided by silver futures. Pretty toppy, wouldn’t you say? It this completes, it means lower stocks, higher silver, or both. I’m thinking “both.”
As I try to shake off the nothing-is-happening-in-the-market blues, here are a couple of ratio charts, each of which use the Russell 2000 ($RUT) index.
This first one is the entire history I’ve got of the NASDAQ 100 divided by the Russell 2000. As you can see, the ratio chart is at levels never witnessed before, because every human in the entire world has dropped 50mg of LSD and is running around screaming their heads off.
I guess I’m a 1931 kinda fella.
In fact, with patience it could turn out to be like shooting contrary fish in a barrel. The stock market rally – which NFTRH had anticipated a year ago on a larger basis and since October of this year for its next leg on a more compact time frame – is doing a wonderful job of holding to its seasonal pattern (see below). The rally is sucking in the holdout FOMOs who, one by one are falling for the dual pleasantries of a softening Fed and by extension, a Goldilocks-like “soft landing” scenario for the economy.
