10 June 2021

Stocks and Precious Metals Charts - Waiting For the Breakout, or Breakdowns


"And yet wisdom is justified by all her children.” 

Luke 7:35


"There are people everywhere who want to convince you of the wisdom of their opinion.  It is not the one who declares his viewpoint the most loudly or vociferously who is the wisest, but the one who is vindicated over time. 

Wisdom is not proven by argument or debate.  Wisdom is proven over time.  Some people adamantly proclaim that their opinion is best.  Regardless of how convincingly these people defend their viewpoint, time is the best judge of their wisdom. 

If you wait patiently, time will reveal the wisdom of your actions far better than you could through argument." 

Henry Blackaby, Wisdom Justified

The markets viewed the consumer inflation data this morning as a passing phenomenon, given the huge plunge in the economy last year, and the current revitalization with the vaccinations.

The big cap tech NDX led the charge higher for stocks, going out on the highs.

Gold and silver also advanced, finishing near their highs for the day,  but still just short of breakouts.

Let's see how we finish out the week.

Stock option expirations next week.

Have a pleasant evening.