Stocks and Precious Metals Charts - Repentance, Forgiveness, Thankfulness - Non-Farm Payrolls Tomorrow

 

“People with advantages are loathe to believe that they just happen to be people with advantages. They come readily to define themselves as inherently worthy of what they possess; they come to believe themselves 'naturally' elite; and, in fact, to imagine their possessions and their privileges as natural extensions of their own elite selves.”

C. Wright Mills

 

"They have become foolish in their reasoning, and their senseless minds are darkened." 

Romans 1:21 

"All sin, indeed, when repented of, He will put away; but pride hardens the heart against repentance, and sensuality debases it to a brutal nature." 

John Henry Newman

"What will you do on the day of reckoning, and in the time of desolation which follows? To whom will you flee for relief?  Where will you safeguard your riches?" 

 Isaiah 10:3

 

"God has a way of standing before the nations with justice, and it seems I can hear God saying to America 'you are too arrogant.  And if you don't change your ways, I will rise up and break the backbone of your power, and I will place it in the hands of a nation that doesn't even know my name.  Be still and know that I'm God.'"

Martin Luther King

 

Wash, rinse, rotate.

Stocks once again failed to extend their snapback rally, and fell lower again today.

The VIX remains in the 30's.

Gold and silver and the Dollar advanced modestly.

There will be a Non-Farm Payrolls report on Friday.

After two failed rally attempts from a decline off a blow off top, the burden of proof is firmly on the bulls.

Until they can turn this around, the primary trend for stocks has a downward bias.

Have a pleasant evening.