17 March 2014

Gold Daily and Silver Weekly Charts - Must Be an FOMC Week

“The common people pray for rain, healthy children and a summer that never ends. It is no matter to them if the high lords play their game of thrones, so long as they are left in peace.”

George R.R. Martin, A Game of Thrones

The jitters went by the wayside as the markets took a big snort of economic news this morning and rallied higher, in what was clearly a 'risk on' trade.

The US and its client states condemned the Russia meddling in the Ukraine, and dismissed the vote in Crimea. You may recall that the US and its allies helped to replace the government in the Ukraine 'ex-vote.' Our meddling is the only one that will be tolerated.

The resurgence of the neo-cons, unashamed after their decade of lies and carnage is remarkable. But a general lack of conscience and moral restraint is the hallmark of the culture it seems, from politicians to pundits.

This is an FOMC week, AND a triple witch stock expiration on Friday. So we are seeing some of the usual technical trading that one may have come to expect from this sort of thing.

This too will pass.

Happy St. Patrick's Day.

Have a pleasant evening.