Fun With Fibonacci Flashbacks

When a ‘blog’ puts the words Fibonacci, Gold, and Stocks in the same post, it well and truly earns its ‘tin-foil-hat’-wearing “digital dickweed” honors. And so, we present, for the edification of all those who believe in gold as the only sound numeraire for judging value; for those who believe it’s never different this time; and for those who believe in dead-cat-bounces; the Dow in Gold in the 30s, 70s, and Now…

 

The crash in nominal ‘price’ is followed by a Fib 23.6% retracement rally as hope triumphs over adversity… only for reality to rapidly re-emerge…

 

Charts: Bloomberg

    

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