---
title: S&P 500 priced in gold...this is what the stock market looks like in real money (looks like a big head and shoulders pattern...)
description: "As highlighted by Quoth the Raven on X, \"If we go back to 0.5x, that puts gold at $12,000, or the S&P at 1850 or they meet in middle at $9000/4500 which would be gold 2.5x and S&P -30%ish\""
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [S&P 500 priced in gold...this is what the stock market looks like in real money (looks like a big head and shoulders pattern...)](https://blog.syzgroup.com/syz-the-moment/sp-500-priced-in-gold...this-is-what-the-stock-market-looks-like-in-real-money-looks-like-a-big-head-and-shoulders-pattern)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Sep 22, 2025, 3:25:57 PM

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