25 July 2024

Stocks and Precious Metals Charts - Where Are the Snows of Yesteryear?

 

"De loin en loin, elle vient jeter dans l'âme du profond artiste un peu de sa paix, de sa grandeur mystérieuse, puis elle retourne à sa solitude immense, au milieu des rues pleines de peuple.  Il n’y a qu’une tristesse, lui a-t-elle dit, la dernière fois, c’est de n’être pas de saints."

Léon Bloy, La Femme Pauvre, 1897

When I see your heavens, the work of your fingers,
      the moon and stars that you set in place—
What is man that you are mindful of him,
     and a son of man that you care for him?
Yet you have made him little less than a god,
     crowned him with glory and honor.
You have given him rule over the works of your hands,
      put all things at his feet.

Psalm 8:4-7

"Et Jehanne, la bonne Lorraine,
   Qu'Anglois bruslerent à Rouen;
Où sont-ilz, Vierge souveraine?
   Mais où sont les neiges d'antan."

François Villon, Ballade des dames du temps jadis, 1533

"Beauty is but a flower,
That wrinkles will devour.
Brightness falls from the air;
Queens have died, young and fair.
Dust hath closed Helen's eye.
I am sick, I must die.
Lord have mercy on us."

Thomas Nashe, A Litany in Time of Plague, 1593

"The broken wall, the burning roof and tower
And Agamemnon dead."

W. B. Yeats, Leda and the Swan, 1933

“The dead will lie on open fields,
like sheaves behind the reaper,
with no one to gather them.
So let not the wise boast of their wisdom
or the strong boast of their strength
or the wealthy boast of their riches,
but let the one who boasts boast about this:
that they have sought the understanding of my ways."

Jeremiah 9:22-24

“We'll always have Paris.”

Rick, Casablanca

Stocks tried to rally today, but fell off into the close to set new lows.

Gold and silver were hit overnight with selling in the futures, and this continued into the day.

As one might expect for an option expiration on the Comex.  Like clockwork.

FOMC and Non-Farm Payrolls next week, as indicated on the economic calendar below.

Gold has hit the fibonacci retracement target at 2350 intraday.

They may have to let the metals up a bit, to smack them back down again next week.

Or not.   Even a three card monte game falls apart every now and then.

VIX is relatively elevated.

The Dollar chopped sideways.

And because of the increase in lawlessness, the love of most will grow cold.

But those who remain standing, until the end, will be saved.

Have a pleasant evening.