As Below, So Above: SGDM vs QQQ
Spooky market symmetry here. Cup and handle bottom into a reverse cup and handle top. Key neckline test happening this week. A weekly close below the key neckline would be a signal that gold miner stock momentum has weakened relative to the Nasdaq 100, and I would obey Mr Market’s commandment to exorcise SGDM and related gold miner ETFs from my portfolio. Excited to see how the rest of this week plays out! – Harry the Heretic
Bullish scenario: the key neckline is defended, the ratio bounces, and this temporary softness would have been a possible “buy-the-dip” opportunity. Let’s see what the market has in store for us!