Here is the Bank index, still holding support. While it looks like it could be making an extended top, the BKX is still above the first support level.
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Pigs and Gold have taken a mostly inverse stance to each other over the last 4 years.
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No big interpretations, just another picture. Extreme policy making began with a panicked focus on the banks and continues to this day. Gold has gone the ‘wrong’ way since 2011, and that is because policy is working toward its goals (so far). That’s been a fact to this day. But the markets are all about what is ahead, right? BKX’s fate is likely to be one of several important instructors on that.
