Charts of the day: Labor participation rate among men reaches all-time recorded low



Labor participation rate is the flip side of the traditional (and inaccurate) U-3 unemployment rate. These charts are shown without political comments because I think both political parties are dishonest on the facts.




Gold (priced in Swiss Francs) is challenging all-time record high price


The Gold/Swiss Franc ratio has been the leading indicator of Gold for years

I pay a lot of attention to Gold priced in Swiss Francs (Gold/Swiss ratio). It has been a leading indicator for years.

The advance this past week has put the Gold/CHF ratio near all-time highs. A decisive close above CHF 1643.7 would be an all-time high and would indicate further strength, possibly an advance to CHF 1835/oz. The charts below show the Gold/CHF ratio on a monthly, weekly and daily basis.

Markets: $GC_F, $GLD, $USDCHF




Copper completing significant bottom


Copper has a history with the compound fulcrum pattern

All chartists know about the H&S pattern, triangles, rectangles, trendlines, wedges, etc. But, what about the compound fulcrum? This is a rare pattern originally used with point and figure chartists.

Copper has a history with this pattern. In the 1970s Copper formed the pattern, as shown by the P&F chart I was keeping at the time (yes, I used to keep charts by hand). Copper eventually went to $1.40 from this pattern.

The daily Copper chart is completing an 15-week  compound fulcrum, pending a decisive close above the early July high.


Markets: HG_F, $JJC