The S&P Midcap futures have not acted like the DJIA or SP500 has at the daily chart scale. The Midcaps have not traveled nearly as far down as the other indices have, where we can see a higher bottom completed already. The short story is that there is an excellent chance that the Midcaps can soar higher on a “C” wave bullish move. Futures daily charts are the best to look at the 50-200-day MA where we can see that a Death Cross has already formed. This is about as bearish of a signal that we can get. This market can charge through the 50-day MA with little effort, but could then run into stiff resistance at the 200-day MA line.
A short correction can still happen next week but any move above November highs would be the minimum to help confirm a “C” wave bullish move is still in progress. At 1920, resistance should stiffen up, but there is never any guarantee that any bullish trip still to come, can’t end early.
I have no useable Gold/Midcap ratio data based setup, but presently it takes 1.54 gold ounces to by one unit of the S&P Midcaps