Market Overview

Watching Silver and S&P

(via COMTEX News Network)--

Watching Silver and S&P By Mike Paulenoff, an publication

If we look closely at the enclosed patterns, we can make the case that since Aug 8 & 9, spot gold is looking a bit toppy, while the emini S&P 500 and spot silver have a considerably more constructive look.

If we translate that into fundamental reason, perhaps scared money is beginning to flow out of gold and back into equities and industrial commodities in anticipation of improvement in the U.S. and global economies.

Certainly, we have no tangible reasons to think that the latter conditions are visible over the horizon, and even fewer reasons to think that the "fear trade" is dissipating.

Nonetheless, right at this moment, these comparison charts could be whispering to us that things definitely are not what they appear to be -- which ETF traders of the SPDR Gold Shares (GLD), iShares Silver Trust (SLV), and S&P 500 Depository Receipts (SPY) may want to heed.

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