Looking at US equities through a different lens – when you price the stock market in gold instead of dollars, the narrative shifts dramatically. As of mid-January, despite all the headlines about market records, the reality is we're nowhere close to previous all-time highs when measured against gold.

This perspective matters more than most realize. The dollar-denominated charts everyone obsesses over are telling an increasingly incomplete story. They're masking what's actually happening to purchasing power and real asset value.

If you're serious about positioning your trades, it's time to flip your attention to gold-priced analysis. This chart reveals the true market structure – where we actually stand relative to historical peaks, and where the real signals are hiding. The conventional dollar charts? They're becoming noise at this point.

The traders who make the next move often see what others miss. Maybe it's time to recalibrate your reference frame.