Both seem to be pointing to a correction very soon (how deep that correction, who knows). What I find interesting is that despite the markets being up yesterday, both of these ratios indicated the rally was weaker than the price action would suggest (GOLD/SILVER ratio up and JNK/TLT ratio down).
GOLD/SILVER Ratio
JNK/TLT Ratio
I started entering short positions today when ES hit 953. I expect a pullback into Monday/Tuesday, as per forecast. I'll add a little bit to the position if we manage to push higher into tomorrow. Overall, position is not very large. I'm saving that for August 7.
EDIT: I covered those short call spreads because I'm not sure how high we go between now and tomorrow's close. Just going to sit on hands until tomorrow.
Note: Charts are as of yesterday's close.
