30 September 2020

Stocks and Precious Metals Charts - I Am a Camera


"The inability to identify with others was unquestionably the most important psychological condition for the fact that something like Auschwitz could have occurred in the midst of more or less civilized and innocent people." 

Theodor Adorno 


"I am a camera, with its shutter open.  Someday, all of this will be developed, printed, fixed."

Christopher Isherwood


"I urge you, brothers and sisters, to be wary of those who cause divisions and undermine the faithful, in opposition to the teaching that you have learned.  Shun them.  For such people do not serve our Lord, but their own appetites.  And by clever words and flattery they deceive the hearts of the innocent and naive."

Romans 16:17-18 


It was a surprisingly volatile day in the stock markets, as equities came off their overnight lows, rallied strong through unchanged to lofty highs, but then, alas, faded back towards much more modest gains in the afternoon.

It was a big pop and unproductive flop.  

Note the action on the charts, how it ranged between the two Fibonacci retracement levels.

Gold and silver were also volatile, but both finished lower.  Silver more markedly so.

And so it was too with the Dollar, which had a nother ranging day, but finished slightly lower.

Lacking other guidance and direction, the markets may look to the Non-Farm Payrolls report. 

Although we ought to be mindful that behind the short term headline number will be looming job losses as the stimulaus programs run out, and large corporations release many thousands of employees.

Have a pleasant evening.