23 February 2022

Stocks and Precious Metals Chart - Who Could Have Seen It Coming?

 

"Could you see, what God sees, those snares and pitfalls which the devil is placing about your path; could you see that all your idle thoughts which you cherish, which seem so bright and pleasant, so much pleasanter than religious thoughts, are inspired by that ancient seducer of mankind, doubtless you would tremble, even as he does while he tempts you. 

But this you cannot possibly see, you cannot break your delusion, except by first taking God's word in this matter on trust. You cannot see the unseen world at once. They who ever speak with God in their hearts, are in turn taught by Him in all knowledge; but they who refuse to act upon the light, which God gave them by nature, at length come to lose it altogether. 

May God save us all from such wilful sin, old as well as young, and enlighten us one and all in His saving knowledge, and give us the will and the power to serve Him."

John Henry Newman

 

"Listen you greedy ones.  Weep and groan with sorrow because of the terrible troubles coming for you. The very wealth you were counting on will eat away your flesh like fire. This  treasure you have hoarded will testify against you on the day of judgment.  

Hear the cries of the workers whom you have cheated of their pay. The cries of those who work for you have reached the ears of the Lord of heaven's host.  You have spent your years on earth in luxury, satisfying your every desire. You have fattened yourselves for the day of slaughter.  You have condemned and ruined innocent people, who could not resist you."

James 5:1-6

 

Stocks made another weak rally attempt in the overnight, and then fell down hard in the trading day, going out near the lows.

The NDX has now hit the 38.2 fibonacci retracement level for it's long bubblicious rally.

Who could have seen it coming?

Gold and silver continued to move higher.

In all this excitement they pretty much ignored the Comex option expiration today, even though it was for a fairly inconsequential contract month. 

Tomorrow is another day.

The Dollar drifted back over the 96 handle.

The markets will continue to be volatile and dangerous as previously cautioned.

The markets were unstable, with weak underpinnings for lofty valuations.

All it took was a trigger event.

If not the Ukraine it would have been something else. 

Are you not entertained?

Have a pleasant evening.