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Shared the above chart with Premium Members on 3/14, reflecting that each time the Australian Dollar/U.S. Dollar ratio broke support over the past 10 months, the S&P 500 fell at least 7% in value. Below is an update to this above chart, reflecting that the AUD/USD ratio continues to break lower support lines.
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What ever the reason….weakness in the AUD/USD ratio has brought about declines in the S&P 500, one of them a 16%+ decline in two weeks last summer. Is this indicator correctly pointing to lower prices in the S&P 500 again? Keep a close eye on it as it is breaking support at (1).
