07 July 2020

Stocks and Precious Metals Charts - Brace for Impact - Gradually and Then Suddenly

"All will have to give account on the day of judgment for every empty word that they have spoken.  For by your words you will be acquitted, and by your words you will be condemned."

Matthew 12:37

"The problem with movies and books is they make evil look glamorous, exciting, when it's no such thing. It's boring and it's depressing and it's stupid. Criminals are all after cheap thrills and easy money, and when they get them, all they want is more of the same, over and over."

Dean Koontz

“Crime, once exposed, has no refuge but in audacity.”


“Imaginary evil is romantic and varied; real evil is gloomy, monotonous, barren, boring. Imaginary good is boring; real good is always new, marvelous, intoxicating. Everything beautiful has a mark of eternity.”

Simone Weil

"To be fearless and proud and alone.  To need no one.  All for the Fatherland.  Now only the reality reigns, cruel and large. I was drunk with this dream. (sobs) Now this emptiness is the reality."

Werner, Das Boot

Justice is coming.  And hell is coming with it.

As you may recall gold broke out of its chart formation at 1770, and then successfully retested that breakout level several times to the downside.

Now it has taken out the psychologically important 'round number' at 1800 which some of the players were watching.

As long as it holds the breakout, the nearer term target is 1860.

I won't speculate on longer term targets, but they are well in excess of the previous all time highs.

Silver is following along, but needs to take out 19 on its own chart.

Stocks were giving back some of the recent melt up rally.

The SP500 is giving a screaming non-confirmation of the new bubble high in the NDX. The new era valuations in big cap tech are approaching insane levels.

Picking an exact time for a big slide in a financial asset bubble.

But when it does come, this one is going to leave a mark.

Have a pleasant evening.