Stocks and Precious Metals Charts - On to Jackson Hole - Option Expiration

 

“It appeared that the whole world was one elaborate system, opposed to justice and kindness, and set to making cruelty and pain.  And he and his father were part of that system, and must help to maintain it in spite of themselves.  Their frail human nature was subjected to a strain greater than it was made for; the fires of greed had been lighted in their hearts, and fanned to a white heat that melted every principle and every law.” 

Upton Sinclair, Oil 

 

"I am not Prince Hamlet, nor was meant to be;
Am an attendant lord, one that will do
To swell a progress, start a scene or two,
Advise the prince; no doubt, an easy tool,
Deferential, glad to be of use,
Politic, cautious, and meticulous;
Full of high sentence, but a bit obtuse;
At times, indeed, almost ridiculous--
Almost, at times, the Fool."

T. S. Eliot,  The Love Song of J. Hayden Powell

 

The way stocks were correcting in a downward plunge, only to rally back up today, makes it feel like there was some sort of technical event, like an option expiration.

Oh yeah, there was.  How unusual.

Gold and the Dollar were mostly unchanged, with silver edging lower.

The Kansas City Fed will be sponsoring a grand economic soirée in Jackson Hole, Wyoming next week.

I doubt that anything will be said to roil the markets.  

But let's see what happens.

Have a pleasant weekend.