14 June 2023

Stocks and Precious Metals Charts - The Fed's 'Super-Hawkish' Pause - Quad Witch Expiration on Friday


"Imaginary evil is romantic and varied; real evil is gloomy, monotonous, barren, boring.  Imaginary good is boring; real good is always new, marvelous, intoxicating.  Human beings are so made that the ones who do the crushing feel nothing; it is the person crushed who feels what is happening. Unless one has placed oneself on the side of the oppressed, to feel with them, one cannot understand.  

Evil when we are in its power is not felt as evil, but as a necessity, or even a duty.

Simone Weil

"Kolbe looked directly and intently into the eyes of those entering the cell.  Those eyes of his were always strangely penetrating.  The SS men couldn’t stand his glance, and used to yell at him, Schau auf die erde, nicht auf uns!   Kolbe was a psychic trauma, a shock for the SS men who had to bear his look, a look that hungered not for bread, but to liberate them from evil."

Bruno Borgowiec, prisoner at Auschwitz

“The real conflict is the inner conflict.  Beyond armies of occupation and the catacombs of extermination camps, there are two irreconcilable enemies in the depth of every soul: good and evil, sin and love.  And what use are the victories on the battlefield if we are ourselves are defeated in our innermost personal selves?”

Maximilian Kolbe

"For we wrestle not against flesh and blood, but against principalities and powers, against the rulers of the darkness of this world, against spiritual wickedness in high places."

Ephesians 6:12

The spokesmodels were aghast at the 'super-hawkish' manner in which the Fed paused from their crusade to stem supply chain/profit driven inflation today by crushing the real economy as part of The Bubble Part Three.

After the sturm und drang of hawkish angst the markets translated this drama into an intraday wash and rinse.

Gold and silver managed to end the day higher after a thrilling rally and plunge.

VIX fell.

The Dollar dropped again. 

And so Jay Powell had his moment, and then the markets got back to setting up the suckers for the big quad witch option expiration on Friday.

There will be a  rinse for this overbought rally, but not until the time is ripe.

The spice must flow.

Have a pleasant evening.