12 June 2019

Stocks and Precious Metals Charts - The King In Yellow

"To the pure all things are pure, but to the corrupt and unbelieving nothing seems pure. Their very minds and consciences are corrupted.  They profess to know God, but they deny him by their actions.  They are disobedient and unfit for any good work."

Titus 1:15-16

"Money, again, has often been a cause of the delusion of the multitudes. Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper."

Charles Mackay

“'The ambition of Caesar and of Napoleon pales before that which could not rest until it had seized the minds of men and controlled even their unborn thoughts,' said Mr. Wilde. 'You are speaking of the King in Yellow,' I groaned, with a shudder."

Robert W. Chambers, The King in Yellow

Stocks attempted to rally but failed, again, for the third day.

They must gather themselves together and go forward, or risk falling back to test the lows.

Gold and silver were up slightly, as was the Dollar.

The markets seem to be betting heavily on a Fed rate cut.

It will be interesting to see how they react if they do not get this, or assurances of a near term cut, next week at the FOMC meeting.

Have a pleasant evening.