The mining sector/S&P 500 ratio indicator
Below (LEFT) the WEEKLY, about 5X more powerful, than the DAILY BELOW (RIGHT)
Thus we see that BOTH are in HIGH position but not BLOWING off as 1 of the momentum measures has already topped out
and moved down in both the Weekly & Daily charts, giving both relative and absolute room upside. Thus, the picture
to me, hints that corrections will be flat, lazy and meandering without serious downward penetrations. So far, so good!!
(click on chart for larger view)
….for the entire 2 page analysis go HERE
