The Phaserl


Gold Up & S&P Down?

by Gary Christenson, Deviant Investor:

Consider this 25 year graph of the ratio of gold to S&P 500 Index.  Unless you believe, AS I DON’T, that the Fed can levitate the S&P for many more years while squashing gold even further, this 25 year chart shows that gold is currently very low compared to the S&P.

This begs the question, is the S&P high, gold low, or both? Consider this log-scale chart of the S&P and the 65 week moving average.

The S&P 500 Index is about 100 points (June 26, 2015) above its 65 week moving average, as shown by the blue moving average line on the graph.  The Disparity Index (deviation from the 65 week moving average) shows that the S&P has been strong since 2012.  The upward trend line will be broken with a decisive fall below about 2,080, which seems likely to occur soon.

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