26 June 2023

Stocks and Precious Metals Charts - Mind the Gap

 

"Pride hardens the heart against repentance."

John Henry Newman, Conversion of St. Paul


"They do not see the image of Almighty God before them, and ask themselves what He wishes.  And, for the same reason that they do not please Him, they succeed in pleasing themselves.  Hence, they become both self-satisfied and self-sufficient; – they think they know just what they ought to do, and that they do it all; and in consequence they are very well content with themselves, and rate their merit very high, and have no fear at all of any future scrutiny into their conduct."

John Henry Newman, The Religion of the Pharisees


"The problem Newman addresses here is with those believers who have grown in the faith, and may exhibit many of its gifts, but stop there without bearing the kind of fruit of which they are capable.   And why do they do this?   Simply because they never grow to fully love Him and His, more than they love their own fears, desires, and selves. 

They always hold some better portion of themselves back and in reserve. They love God as they think that they must only in order to avoid punishment and to be comfortable, while being blinded to their own sinful shortcomings, never fully growing into the love which is the substance and the salvation of their true selves.  They are imbued with the leaven of the Pharisees, which is hypocrisy and spiritual pride.  And it is the road to a dwindling of the spiritual life, and a gradual erosion of faith as a vital element of our every action."

Jesse, 5 April 2017

The gap to which the header refers is not the infamous gap between what a people think their leaders do in the world, and what they actually have done, and what they are planning to do.  

It is the gap that looms below the price levels here on the SP 500 chart.  And it is a gap that is likely to be filled, sooner or later.

Stocks slumped.

The Dollar chopped sideways.

The VIX rose.

Silver managed to hold a rally higher, while gold attempted to rally but did not hold on.

Tomorrow is an option expiration for the precious metals on the Comex.

Wash, rinse, repeat.

Malign forces are at work in the world.  This is always the case as we see throughout history.

But their force and influence waxes and wanes in the hearts of men.  

People forget, and so sometimes foolishness is allowed to prevail.

Try to remain standing in the madness.

Have a pleasant evening.