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Lyn Alden
The S&P 500, as priced in gold, looks a lot less weird than as priced in dollars, since it cancels out some of the stimulus/QE effect. Ever since U.S. GDP growth peaked in Q3 2018 in rate of change terms, the S&P 500 as priced in gold keeps making lower highs and lower lows.
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Lyn Alden Jun 22
Replying to @LynAldenContact
Flipped over, the gold-to-spx ratio broke above its 50-month moving average early this year, for the first time since 2001. It briefly touched above the moving average in 2019, but then consolidated below, and in 2020 it has maintained a firm breach over the moving average.
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Lyn Alden Jun 22
Replying to @OldtimerBilly
It peaked in rate of change terms, not absolute terms, in 2018. Rate of change is mostly what moves markets. From that point in Q3 2018, gold and long duration treasuries outperformed substantially, while small caps and cyclicals underperformed.
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roadrunner Jun 22
Replying to @LynAldenContact
How does it look like with total debts as a base?
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Lyn Alden Jun 22
Replying to @roadrun99958526
U.S. stock market capitalization (as approximated by Wilshire 5000) divided by total U.S. debt (public and private):
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roadrunner Jun 22
Replying to @LynAldenContact
Thank you so much Lyn for your amazing researches!
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Fizz2 Jun 22
Replying to @LynAldenContact
Now do SPX/BTC
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Travis Bartley Jun 22
Meaningless
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Jr. Fitz Fitness Jun 22
Replying to @LynAldenContact
Thank you Lyn.
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Veseli ⚡️ Jun 22
Replying to @LynAldenContact
What about SPX priced in BTC?
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Sean is Macro Jun 23
Gotta love that
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