The Gold-to-QQQ Ratio Setup Worth Watching

Looking at the chart patterns, gold is showing interesting relative strength against QQQ tech stocks right now. The ratio is building an ascending triangle—that's where you see higher lows consistently bumping into the same resistance level. This formation signals something important: whenever the ratio dips, buyers are stepping in harder, pushing gold back up relative to QQQ.

What's happening underneath? Each pullback in this ratio reveals stronger institutional demand for gold compared to tech equities. The pattern suggests the market is testing whether this relationship will break higher. Those higher lows? That's the tell—they show conviction that gold's relative value is strengthening.

This kind of setup typically plays out when investors are rotating out of growth-heavy positions toward stores of value. Whether you're hedging or repositioning, this ratio deserves a spot on your watchlist. The technical structure is clean, the pressure is building, and the next move could matter for your portfolio allocation.