05 May 2021

Stocks and Precious Metals Charts - I Remember Mama


“When the child must be weaned, the mother too is not without sorrow at the thought that she and the child are separated more and more, that the child which first lay under her heart and later reposed upon her breast will be so near to her no more.” 

Søren Kierkegaard 


Janet Yellen walked back some of her interest rate related verbiage that had roiled markets earlier this week.

It just goes to show how skittish the markets are at these valuations in the context of our current circumstances and uncertainty.

Gold was up a bit and silver was nominally unchanged.

The Dollar chopped sideways.

The SP 500 moved up a little after giving up most of the day's gains.

Big cap techs drifted lower.

Traders seem to be holding their breath, waiting for the Non-Farm Payrolls report on Friday.

This is a Fed subsidy dependent market, waiting to see if an organic recovery can take hold.

And thereby it can taper off its support and wean the market from its artificial dependency on expansive monetary policy.

Have a pleasant evening.