Have not posted this in a while... (Jiffypop reminded me)
Does not mean the SPX has to drop... just that gold grossly out-performs. (at least initially...)
But then in the (C) down likely to see SPX dropping a lot in P.4 while gold rallies even more.
I LOVE how the P.2 low on this chart lines up perfectly with my projected timing for P.4 in SPX... ~Nov 2020
If we were to see SPX fade back to 2300-2100 into Nov 2020 for P.4 and at the same time looking for a 1.31 ratio for the P.2 low of SPX:GC... that puts gold at... 1600-1755/oz. And that is only the 38.2% retrace for P.2 on the ratio...
I have GC targeting the (3) of P.3 into that timing window ~1750-1800.