"The Fates are just: they give us but our own; Nemesis ripens what our hands have sown."
John Greenleaf Whittier
“Through pride we are ever deceiving ourselves. But deep down below the surface of the average conscience a still, small voice says to us, something is out of tune.”
C.G. Jung
It was an interesting Comex options expiration for precious metals today, thanks to Trumpolini who cancelled the upcoming summit with North Korea.
The markets initially slumped on this, and there was a run for the safe havens in the precious metals.
The Dollar sold off a bit from its recent highs. According to Bloomberg there was a flight to safety in the yen. Say what? lol
The US is heading into a three day weekend, with Monday being Memorial Day.
There will be a Non-Farm Payrolls Report for May next Friday.
I would not be surprised to see the precious metals longs get at least one 'gut check' for those new positions they may be hold post-expiration.
The markets are pricing in a 100% chance of a Fed rate increase in June, so look for it. If they do not then something is going wrong with The Recovery™.
Equities are priced for complacency and the masters of the universe are feeling fully in control.
This is not going to end well. But no one will have seen it coming, again.
Have a pleasant evening.
