Technical break in DAX-Gold ratio, arbitrage for 2015

Last year, I wrote about a possible DAX-Gold ratio technical breakout to anticipate for 2015 (see related idea below). As of last month, this breakout is underway, signaling that the DAX should continue to outperform gold (in EUR terms). This is pretty impressive given that gold in euro terms rallied over 20% in January (but has fallen since). This chart suggests that European equities should fare well this year, which seems pretty clear given the strong rise in prices during the past 3 months.