Whither Miners if this oscillator flashes another sell?
This RISK/ON ratio chart has just reached the rarified atmosphere which on 2 previous occasions marked a peak in equities Mar & Sept 2012.
If miners follow any mkt weakness again,then we've had it along with Paulson.
Get a ratio solid line chart on HYG:LQD and peak(?)for yourself.
Seems to me that AU peaked months in advance of equities in the 2007-2008 bear mkt.
How mkts behave in early 2013 relative to the 4th qtr lo's we've seen will be the tip-off!
The 4th qtr lo's must not be breeched in Jan or Feb.for bulls to avoid a mkt correction.
The miners must decouple should a sell be generated.