WMT / NYSE Index Ratio and the KEY support

CLIFF NOTES: patterns exist on the ratios/we use ratio analysis to look for sector rotation and when the RATIO’s inflect there are usually inflection points.  We are at a key level in the WMT / SPX ratio.  Also, I added the NYSE Index overlaid.  Note EVERY HIGH AND LOW was at this ratio’s SUPPORT and RESISTANCE.  We are at key support – TODAY – on this ratio.  Also, the XLP/SPX ratio has a foldback occurring and I would “think” it will find support but sure doesn’t look like it …

BOTTOM LINE – this entire thing is in unchartered territory.  Understand the scarce resource and monetize on that … stay away from these markets.

BART

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