We can see that we are breaking out of a bullflag
Currently we are at a downtrend but at support for the dxy
Looking at the gold/sp500 ratio we can see that money is starting to flow from equities to gold and likely other commodities.
We can see fear returning back into the market as indicated by the spike in the vix and the red day in the overall market
Based on this as well as the stimulus cheques I believe we are seeing a flight to safety towards hard assets such as gold to protect their purchasing power in this inflationary environment .
Currently we are at a downtrend but at support for the dxy
Looking at the gold/sp500 ratio we can see that money is starting to flow from equities to gold and likely other commodities.
We can see fear returning back into the market as indicated by the spike in the vix and the red day in the overall market
Based on this as well as the stimulus cheques I believe we are seeing a flight to safety towards hard assets such as gold to protect their purchasing power in this inflationary environment .