"Cannot I say, as truly at least
of human laws, that where mystery begins, justice ends?"
Edmund Burke
“In a room where people unanimously maintain a conspiracy of silence, one word of truth sounds like a pistol shot.”
Czesław Miłosz
"The world of finance is a mysterious world in which, incredible as the fact may appear, evaporation precedes liquidation. First the capital evaporates, and then the company goes into liquidation."
Joseph Conrad
“Give a man a fire and he's warm for a day, but set him on fire and he's warm for the rest of his life.”
Terry Pratchett
Stocks flipped over and dropped down to test the prior lows.
After the bell Alphabet and Microsoft reported earnings, and further roiled the volatility of the NDX.
VIX and the Dollar rose sharply.
The Dollar is now sporting a 102 handle on the DXY index.
The Dollar strength is essentially the inverse of weakness in the Euro, Pound, Yen and Loonie.
Gold bounced up a little while silver fell a bit lower.
We had a minor option expiration for the precious metals on the Comex today, more significant for silver than gold.
The miners were caught up in the equity selling for the most part.
The NDX has set a second low.
The SP 500 is on the edge of confirming.
Let's see what happens.
Nothing is certain here. But the risk is pronounced.
But all in all, it's a more peaceful view from higher ground.
Have a pleasant evening.
