GLD/SLV Ratio - time for a correction?

This chart depicts the GLD/SLV ratio since the start of the almost 11 year bull market. As you can see the ratio reached a high at about the time the market starting crashing back in 2008 of 8.8, and hit a low of 31 when gold topped out in 2011 (those boundaries defined by the FIB chart). It has steadily climbed within two very defined channels to new highs as gold and silver have been out of favor for most of the 11 year raging bull. Gold and silver did have a brief shining moment in 2016 while the market digested its 5 1/2 year gains before the next leg of the bull market (see drop in ratio at start of 2016). During the last leg the ratio reached a historical 100 year peak at 9.4 (a 94 gold to silver ratio). During gold and silver's shining moment that began in June this year you can see the 94 peak collapsed (right at the support channel of the first channel) through the second channel and gave way to a ratio of 8.0 as silver outpaced gold's gains on a percentage basis. The ratio has worked its way back to 8.6 as gold and silver have consolidated their big moves that started in June. As you can see it has stalled right at the underside of the second channel as well and should continue to fail as gold and silver start to rise again. A break of 8.35 (which represents the 2015 top before the 2016 low of 6.5), which is marked by the horizontal line and the red .236 level on the inset FIB chart marking the 9.4 top and 8.0 bottom, and the flood gates should open again. If history is correct, and this chart follows a similar pattern to that of 2008-2011 (even at a slower pace), this is the time to buy silver (and gold ) and protect your equity investments that appear to be due for a breather.