Market Breaches 2009 LOW!!!

[m22au]

Quote from Random.Capital:

IMO there is merit in that. But I don't think gold is a suitable "hard currency" to do it against, because it's value is 99% speculation.

Oil would be better comparison, IMO.

Unfortunately Stockcharts doesn't have a symbol for brent oil, and NYMEX $WTIC is unreliable because of the recent delivery problems causing it to trade so much lower versus brent.

The BNO etf is only a recent invention, and that chart doesn't go back to March 2009.

 

[Tsing Tao]

Quote from atticus:

You should se the chart of SPX priced in new potatoes. It's catastrophic. You make me yearn for Bearice.

LOL!

 

[shortie]

a while ago tradingjournal asked about how other sectors appeared when normalized by Gold. Here are IWM, QQQ, XLE. These are the charts for those of you who may have some theories about this. XLE looks like SPX in that it breached 2009 level, but QQQ and IWM are still slightly above.

Why would quite different indexes look similar at this juncture? I smell some important implications here, but I don't know what they are

p.s. I love potatoes