Charts Of The Day: USD, S&P 500, Gold Driving Each Other
Gary Savage | Sep 10, 2015 12:06AM ET
All markets are connected. If stocks (via S&P 500) break free of central bank efforts to prop them up and stop the move into the 7-year cycle low, then we should get another leg down. That could correspond with the dollar moving down sharply into an intermediate degree correction as the currency markets begin to anticipate another round of QE.
And, since it's very late in gold's daily cycle, once the dollar starts to tank, gold should produce the next leg up of this cycle.
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