SP 500 Futures
@ 11 PM EDT
Existing home sales tomorrow at 4.6 Million consensus. Refis are progressing so quickly the NY Fed is growing concerned about its shrinking MBS portfolios that it took over from the banks. As refis are done the mortgages leave the pool.
US GDP second estimate for Q2 on Thursday 27 August. Consensus is for 1.4% versus the first estimate of 2.4% and a chain deflator of 1.8%. If the deflator deviates lower from this figure then it might to 'enhance' a bad GDP figure. Watch inventories as well.
Gold Daily Chart
It is options expiration this week (26 August) at the Comex for the precious metals.
Gold Weekly Chart
Silver Weekly Chart
"Where such a shift in power is in favor of the governing elite, Power will achieve its murderous potential. It simply waits for an excuse, an event of some sort, an assassination, a massacre in a neighboring country, an attempted coup, a famine, or a natural disaster, to justify the beginning of murder en masse. Most state sponsored murder occurs under the cover of war, revolution, or guerrilla war, or in their aftermath."
R. J. Rummel