11 April 2023

Stocks and Precious Metals Charts - An Impasse in Expectations

 

"She was steadfast when stability was unknown, and honorable in an age which had forgotten what honor was; she was a rock of convictions in a time when men believed in nothing and scoffed at all things. She was of a dauntless courage when hope and courage had perished in the hearts of her nation.”

Mark Twain, Joan of Arc

“A decline in courage may be the most striking feature that an outside observer notices in the West today.   The Western world has lost its civic courage.  Such a decline in courage is particularly noticeable among the ruling and intellectual elite, causing an impression of a loss of courage by the entire society.”

Aleksandr I. Solzhenitsyn, A World Split Apart, 8 June 1978

"At the root of America's economic crisis lies a moral crisis: the decline of civic virtue among America's political and economic elite. A society of markets, laws, and elections is not enough if the rich and powerful fail to behave with respect, honesty, and compassion toward the rest of society and toward the world. America has developed the world's most competitive market society but has squandered its civic virtue along the way. Without restoring an ethos of social responsibility, there can be no meaningful and sustained economic recovery."

Jeffrey Sachs, The Price of Civilization, October 4, 2011

"That is a dirty word in this age of empire, to serve.  Ironically we all end up serving something or someone, even if it is only ourselves.  And we become defined by what we serve.  Anyone can be a hero or a saint, not flawless, but faltering, not perfect, but persevering, not proud but pushing forward often in fear and trembling, not losing their own way but following the light of righteousness and goodness, even while stumbling and going forward again, because everyone can serve, and serve well if they choose something lasting and worthy."

Jesse, Heroes and Saints, 18 January 2015


The secret of courage is to care for something, someone, more than you care for yourself. 

Stocks had another waffling day, seemingly waiting with bated breath for the Consumer Price Inflation data tomorrow.

Earnings season will begin on Friday with the Banks.

Gold and silver rose a little.

The Dollar gave back Monday's gains.

Back and forth, wash and rinse.

The VIX looks to be caught in a tight range.

I suspect something will break soon.

Let's see what tomorrow brings.

Have a pleasant evening.