Saad Ullah
⬤ Platinum is grabbing serious market attention after busting out of a long-term pattern against the S&P 500. The platinum-to-SPX ratio just broke above an 18-year falling wedge—a move traders are treating as a powerful bullish signal. The breakout's now confirmed with a higher high on the chart, showing platinum is getting stronger compared to stocks.
⬤ This breakout is part of a bigger shift happening across platinum-group metals. Both platinum and palladium are showing signs of starting fresh bullish cycles after years of decline, pointing to a major turn for the sector. The platinum ratio, which fell from 2008 through 2023, has flipped direction. Momentum indicators are backing up this trend change.
This breakout comes as part of a broader shift underway within the platinum-group metals... suggesting a major turn for the sector.
⬤ These moves fit into a growing story about rotation into hard assets. Precious metals, including platinum, have been picking up steam as market conditions shift. The breakout versus the SPX adds more proof to that narrative. With the ratio locking in a confirmed higher high after the breakout, the trend shows rising relative strength that supports the case for an emerging PGM bull market.
⬤ Platinum outperforming the S&P 500 means more than just one technical pattern. A structural breakout like this could signal bigger changes in how money gets allocated, potentially pointing to renewed interest in commodities after years of stocks dominating everything. If this momentum keeps going, it could reshape sector flows and market expectations going forward.
Saad Ullah
