🎩🔎 Applying supply/demand and #CFTC analysis we can conclude that the banks 🏦 are 🟢 buying #gold and 🏦 are 🔴 selling the $SPY #ES_F. Recently they've enjoyed a somewhat positive correlation but that is about to turn negative.
The S&P 500 is contacting a massive selling are and currently reacting from it.
Gold reacted from an institutional demand zone and the banks have been buying ever since.
Gold vs S&P 500