Metals & Stocks Still Not on the Same Page?

by Martin Armstrong
Armstrong Economics

QUESTION: At the WEC you said that as long as the metals and the stock market are still fighting with each other, then the breakout is not quite ready. I assume we are looking at this probably by the first quarter next year which is why you are holding the WEC after the elections. Is my assumption correct?

ANSWER: Yes. The metals have some room to reach last year’s high as in silver at 1850 that is about 5% still higher if they achieve the closing numbers provided on the Private blog. In gold that number for last year’s high is $1307. In the Dow that is 18351. Gold, silver and stocks all rallied into 1980 from the recession low in the mid-1970s. True, the D0w went further into the following year when the metals peaked in 1980. Nevertheless, they DO NOT historically move in total opposite trends.

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