US Equities Topping Out
Gold, Currencies, ETF investing, Macro
Seeking Alpha Analyst Since 2010
US Equities appear to be putting in a long-term top. This is evident if we look at the monthly FTSE100 (VGK) chart, which US equities correlate with, and the US Materials Select Sector (XLB), which is a component index of the SP500 (SPY). Both are at monthly timeframe long-term resistance. After that, look at the Dow (DIA) correlation from the current Dow, to the Dow from 1928-1930.
US Materials Select Sector
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