Bernie Schaeffer - Positive Correlation Between the streetTRACKS Gold and S&P 500

Earlier this morning, Bernie Schaeffer shared the comments below with his analyst team...

"The chart below is a daily of streetTRACKS Gold (GLD) vs. S&P 500 (SPX) along with 24-day correlation."

"If you ignore the very brief dip below the zero line in September, we are going on 6 months of positive correlation, the longest such period on the chart."

"Note that the second longest period of positive correlation ended in October 2007, which is not what you'd like to see as a stock bull (though admittedly could be a case of 'correlation without causation')."

Chart Courtesy of Thomson Reuters

For those who don't remember, October 2007 was the last significant market peak and can be seen on the weekly chart below.

Chart Courtesy of Thomson Reuters

Note - additional thoughts from Bernie can be found by starting with this post and following the embedded link in each post.

 Email to a Friend

 Del.icio.us

 Facebook

 Reddit

 Newsvine

 Digg

 Mixx