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Are Stocks About To Dramatically Outperform Gold?
Today's chart will mainly appeal to fans of technical analysis. Everyone else can just skip it and come back tomorrow.
With the big rally in equities, and the selloff in gold, we have what chartists call a "head and shoulders" pattern when gold is put up against stocks.
Specifically, this chart (via StockCharts.com) looks at the GLD ETF (gold) vs. the SPY ETF (S&P 500).
As you can see, there's a pretty classic pattern forming, and traditionally, chart folks would expect a big plunge to come up, which would mean that gold is about to fall hard against stocks.
Of course, this could all be just picture-drawing nonsense. Read » | | | | | | |
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