24 July 2013

Gold Daily and Silver Weekly Charts - Tomorrow Must Be COMEX Options Expiration

"Major Strasser: Are you one of those people who cannot imagine the Germans in their beloved Paris?

Rick: It's not particularly my beloved Paris.

Heinz: Can you imagine us in London?

Rick: When you get there, ask me.

Captain Renault: Hmmh! A diplomat!

Major Strasser: How about New York?

Rick: Well, there are certain sections of New York, Major, that I wouldn't advise you to invade."


Similarly, while there are certain market manipulations that in the short term may appear to be tempting, they may not be advisable given the potential for profound consequences that, while unintended, could prove to be significant.

There was intraday commentary on the slanting W chart formation on the gold chart here.

The action in the precious metals remains labored. The structure of the market is breathtaking.

Tomorrow is option expiration on the COMEX. The following week begins the August delivery period.

I will try to keep you informed as best as I can.

Have a pleasant evening.