Chris Kimble, a 30-year+ market technician and student of Sir John Templeton, takes a look at the two precious metals and explains his use of crayons.

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Chris comments: In the chart above it appears that the Euro is a leader in the future direction of the S&P 500.

Euro has rallied, creating a global sense of relief and the 500 index has rallied along with it for the past 2 weeks. Now the Euro is facing a couple of resistance lines.

Keep an eye on the Euro, since the 500 index seems to be riding its flight path.