The Dow priced in Gold will hit a new 20 plus year low at the open....taking out last Friday's new low as well as the March, 2009 low of 6.86.

This new low will support the theory that the Dow and Gold are headed back to revisit the 1 to 1 ratio last seen in 1980.

The next significant low is 5.85 from late 1990. Assuming the Dow opens at 11,200, Gold would be at $1,915 if the ratio were to hit 5.85.

If that is taken out, the next downside low to take out would be 3.68 from late 1987. Assuming the Dow opens at 11,200, Gold would be at $3,043 if the ratio were to hit 3.68.