Yen/PM Combo Chart Update…A Most Surprising Outcome

February 20, 2020

Just a quick update on the Yen / PM combo we’ve been following. Today the yen is moving lower in its new impulse move to the downside doing away with the positive correlation it used to have with the PM complex. While the yen is moving lower more PM stock indexes are breaking out to the upside. I just wanted to post this combo chart early so you can follow the breaking out and the backtesting process in real time.

Note SLV which hit its neckline today and is backing off a bit. This tells us the neckline is properly placed. With the other PM stock indexes breaking out above their 6 month H&S consolidation pattern it is now just a matter of time before SLV will join the party. After 6 months of consolidation we are finally seeing the results with most of the PM stock indexes building out a H&S consolidation pattern with a few bullish rising wedges. Today the XAU and the HUI are touching the top rail of their blue bullish rising wedge while GLD has already broken out of its bullish rising wedge. I had just enough annotations left to add XGD.TO to the combo chart for our Canadian friends which has already broken out of its H&S consolidation pattern and is hitting new highs today.


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