Gold to Dow Ratio and Where We are Now

"History doesn't repeat itself, but it often rhymes." -Mark Twain

Here is a macro view of the Gold:Dow ratio, which normalizes the price of a popular alternative investment relative to the strength of the market. When this trend is going up, gold is outperforming the market. Conversely, a downward trend means stocks are outperforming the metal.

Where is this going next?