While it is entirely possible (I happen to reserve a place of respect for the d boys' case) that a deflationary backdrop will persist longer term, if there is to be a counter trend pump (i2k12 or inflationary 2012) this ratio will indicate it.
SLW-SLV has made good on an initial move, rising above the green dotted weekly EMA 25 after a bullish MACD divergence. If the early signal on MACD continues on to be a confirmed weekly up-trigger, we will have our i2k12 party. In fact, if the POTUS wins reelection, we will call it the i2k12 Party instead of the Democrat party.
There are many other indicators to watch (and refine), and watch them NFTRH shall going forward. For now, let's get the interest rate manipulators at the FOMC over with so we can put them in the books along with the Greek elections. Data points are more trustworthy when they are plotted against a less dynamic (e.g. emotional) backdrop.
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