From time to time we have noticed how gold tends to follow palladium. Tonight I want to take another look at it.
Pallidum began to rally out of the June low a day earlier that gold. And then declined into the first daily cycle low ahead of gold.
In the second daily cycle palladium peaked ahead of gold and then declined into a left translated failed cycle, while gold declined into a right translated daily cycle low.
Currently, gold broke below its daily cycle trend line first with palladium follow a few days later. Palladium, as well as gold, has already locked in a left translated nature to this daily cycle. Gold’s current daily cycle has already failed. It appears that palladium is destined to follow.
The current daily equity cycle peaked on day 15 and has declined since with today being day 25. Since our expectation of a left translated daily cycle still unfolding I thought that tonight we take a look at the weekly chart.
This is the third intermediate equity cycle of the year. The weekly cycle has a week 12 peak with now some downside follow through. A break below the dotted trend line confirms a that the intermediate cycle is in decline.