Pips School Research5 min read
Fewer constituents participating in an advance changes the risk profile of index exposure.
When an index advance depends on a small group of components, index-level strength can mask weakness elsewhere. Breadth measures make that distinction visible.
The pair has spent several sessions in a narrowing range as traders wait for the next inflation print. Here is how the structure is shaping up.
Gold's relationship with real yields remains the most useful lens for framing current price behaviour.
Rate differentials have driven much of the pair's multi-year behaviour. What would change that dynamic?