Gold-Silver ratio (GSR) updated

Of at least as much importance as what HUI is doing technically (and it's doing something nice in negating the topping pattern neckline today, though it is still well below its pivot point to what would be real longer term bullish outcomes) or what nominal gold and silver are doing (sporting nice looking patterns) is the state of the gold-silver ratio.

If gold rises impulsively in relation to silver, liquidity is indicated to be contracting.  If this ratio declines, the opposite is indicated.  Today the GSR is breaking down a bit from a familiar looking pattern.  A decline below the 200 day moving averages could keep the party going across the asset spectrum, this time even including the precious metals.  Go figure.

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