You folks playing the short equities/long gold better be careful.
We just got confirmation of THE SPRINGSTEEN OMEN.
Over the years, Robert Prechter of Elliott Wave International has made some great comparisons between mass social mood, financial markets, and the mood of music and movies. He’s presented exhaustive analysis on how music and movie themes align with the mass social mood of the people. As I was reading articles about Springsteen’s upcoming re-release of “The Darkness” record, I started to wonder how the timing of both releases would present itself in relation to the financial markets.
“Darkness was an angry record. I took the 10 toughest songs I had.I didn’t want something with a broader, more compassionate overview. That didn’t feel right to me.”
Bruce Springsteen (Interview with Edward Norton at the Toronto International Film Festival, Sept. 2010)
The chart below presents the Dow Jones Industrial Average Gold Ratio with the two dates for the release of “Darkness On The Edge Of Town”. My hypothesis proves to be true. Both releases align with a downward trending cycle.
Read the whole thing, and be VERY careful out there.