29 September 2020

Stocks and Precious Metals Charts - And They All Fall Down - Non-Farm Payrolls on Friday

"There was war in heaven.   Michael and the angels fought against the dragon.  The dragon fought back, but he did not have the power, and so lost his place in heaven.  The great dragon was thrown down – that ancient snake called the devil, or Satan, who leads the whole world astray.  He fell to the earth, and his angels with him. 

Then I heard a loud voice in heaven say: ‘Now has come the salvation and the power and the kingdom of our God, and the authority of his Messiah.  For the adversary of our brothers and sisters, who accuses them before our God day and night, has been hurled down. 

They triumphed over him by the blood of the Lamb and by the word of their testimony; they did not love their lives so much as to shrink from death.  Therefore rejoice, you heavens and you who dwell in them! 

But woe to the earth and the sea, because the devil has come down to you.  And he is filled with fury, because he knows that his time is short.’"

Revelation 12:7-12 

"And he said to them, 'I saw Satan fall, like lightning from heaven.'"

Luke 10:18

Stocks slipped again today, and a rally attempt failed into the close. 

The Dollar continued to slip lower. 

 Gold and silver edged higher. 

We will be getting the September Non-Farm Payrolls report for September on Friday.

Since this is often an occasion for a bear raid on the metals, those who do their daily prediction for a decline in the precious metals might get lucky.

It should be noted that all Non-Farm Payroll reports are created equal.   Or more precisely, they may occur in different contexts.

All in all, precious metals are in a bull market that remains unbroken.

While they often move in a contrary manner, this does not mean that the Dollar must also decline.  Sometimes they move in unison.  

But because most people in the US are referring to the price of gold in Dollars, this inverse correlation may often hold true for that currency.

I am posting a little early today because I have an appointment at 4 PM.

If anything of note happens I might update the charts.

Have a pleasant evening.