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Money Flow Flip: S&P 500 Vs. Gold Vs. Oil

Published 02/02/2020, 01:18 AM
Updated 07/09/2023, 06:31 AM

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 at further weakness. Furthermore, January's candle formation on the SPX is a shooting star, also a bearish signal in the longer term.

Near-term major resistance sits at 1600 for GOLD. That level must be recaptured and held to support any further sustainable rally with conviction.

SPX vs Gold vs Oil Monthly 2004-2020

Latest comments

super .....sir
Interesting but confusing... No idea for the direction?
Omg i just did this 10 minutes ago how freaky is that
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