09 June 2022

Stocks and Precious Metals Charts - Market Eyes CPI Number Tomorrow

 

"A new commandment I give you, that you love one another.  Just as I have loved you, so you must also love one another.  By this shall all know that you are My disciples, if you have love for one another.”

John 13:34-35

"Do not seek revenge for yourself, my friends, but make way for the wrath of God.  For it is written, 'Vengeance is mine,' say the Lord, 'and it is I who will bring justice.'”

Romans 12:19

"We live in a world where love itself is condemned. People call it weakness, something to grow out of. Some are saying: 'let each one become as strong as he can, and let the weak perish.'  The neo-paganism [of the Nazis] may well cast-off love but, in spite of everything, history teaches us that we shall be the victors over this.  We shall not forsake love.  But take the days as they come.

I see God in the work of His hands and the marks of His love in every visible thing.   Do not yield to hatred. We are here in a dark tunnel, but we have to go on. At the end, an eternal light is shining for us.  Not my will but yours be done."

Titus Brandsma, 26 July 1942

"Love does not make you weak, because it is the source of all strength. But it makes you see the nothingness of the illusory strength on which you depended before you knew it."

Léon Bloy

"We have come to know and to trust in the love that God has for us. For God is love, and he who abides in love abides in God, and God in them."

1 John 4:16

Stocks took the gas pipe today, out of concerns for a bad print on the CPI data tomorrow.

And even worse, they went out on the lows.

Gold and silver were hit hard early on, but managed to take back a chunk of their losses, especially in the case of gold in a flight to safety.

That flight to safety was more evident in the dollar, which soared into the 103 handle.

The VIX bounded higher, again showing the risk off bias.

So let's see how that CPI number prints tomorrow, and how the markets choose to interpret them.

Smells like teen spirit.

Despite the temptations to greed and fear, be mindful of your soul.

For that is what this is all about.

Have a pleasant evening.