With respect to the two metallic indicators in the previous post, I find it interesting that they are diverging today. The markets are down, people are concerned about a stock market correction (gotten a look at market sentiment lately?), Greece, the Fed and whatever else they can find to upset themselves with.
But today Silver has been trying to bounce vs. Gold while Palladium is more in line with the bearish festivities going on today. Silver is trying to sniff out an inflation play, while Palladium is still on the message that an economic signal may be coming in the next few months. It’s only one day (not to be taken in a vacuum), but both ratios have been dropping for somewhat similar reasons, as they both tend to be cyclical.
Of course, it’s FOMC week so we might expect some wacky things.
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