Big Price Movement in our Quad Intermarket Grid Today

Sep 27, 2017: 3:56 PM CST

With stocks pushing up to a new all-time high, what’s happening in our Quad-Market Grid?

Simple – let’s take a look at the recent action and note the ongoing trends in motion:

With the @ES (S&P 500) breaking to new highs today, note the sudden sell-off in Gold.

Gold tumbled from its early September high to a new swing low beneath $1,300 per ounce.

At the same time, boosted in part due to the hurricanes, Oil rallied higher with the stock market to close at a new swing high above the $51.50 key level.

The US Dollar – long-since downtrending – snapped the short-term downtrend in September roughly when Gold prices peaked.

Note the Mirror Image (inverse correlation) with the Dollar and Gold.

While we don’t see it above, US Treasuries sold off sharply along with Gold.

Even if you don’t trade these markets, it’s helpful to check what’s happening behind the scenes as to where money is flowing in the broader markets.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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