During the Jan 19 webinar, Sid showed an intermediate-term chart of Gold and the S&P-500 Index, one overlaid upon the other. The chart clearly showed that gold and the stock market don’t always move inversely, as many seem to believe. Sometimes the two items move opposite each other, but other times they generally move together, in positive correlation. For instance, since early October 2019, the two items have generally been moving to the upside together.
This video clip, taken from that January 19 weekly “Counts” webinar includes Sid’s discussion of the above myth, as well as his chart of Gold vs. the S&P. For those who believe that Gold will “save them” when the stock market crashes next, the video is worthy of consideration.
Are there potential trading profits to be made on both the upside and downside of the S&P as well as Gold? Absolutely. But the two items really should be analyzed and traded independently.
Bonus screenshot from the January 26 weekly webinar. Notice how highly correlated the S&P and the XAU (Gold & Silver Sector Index) have been since early October.
Quarterly Premium Plan Webinar 1-17-20. During this free webinar, we cover multiple topics such as:
The different levels of services offered at ElliottWavePlus.com (Crypto Plan, Basic Plan, Pro Plan, and our Premium Plan), How to navigate within our ElliottWavePlus.com website, Helping yourself to our Resources, Our Blog and how to use it, How to utilize our top-tier service – The Premium Plan.
Sid Norris of ElliottwavePlus.com, during the Sunday, January 12, 2020 weekly “counts” webinar for Pro-Plan subscribers describes his Elliott Wave count and associated Fibonacci price targets on Gold.
Fractals are self-similar forms that show up repeatedly. Consider branching fractals such as blood vessels or trees: a small tree branch looks like an approximate replica of a big branch, and the big branch looks similar in form to the entire tree.