Redback's Australian Stock Market Report: Gold:XAO Ratio

Tuesday, November 3, 2009

Gold:XAO Ratio

The Gold:XAO ratio broke decisively upwards today above the critical Moving Average. This adds further weight for the bearish case against the Ozzie stock market - and more ammunition to the side of the GoldETF as a hedge.

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About this blog

Emphasis in this report is given to inter-market analysis (bonds, gold, international stock markets, currencies), market sector analysis and breadth analysis. Mention will also be made of simple Technical Analysis tools. The main indicators used are the MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index), Slow Stochastic, trend lines and On Balance Volume.

To make matters clear. I am not a licensed financial advisor. Any statement that I make should be read as the personal opinion of a simple chartist trying to make sense of a chaotic environment.