SP 500 and NDX Futures Daily Charts

Adobe came out after the close and cut forecasts in light of slumping sales, which they attribute to Japan.

Gold Daily and Silver Weekly Charts, Blythe the Silver Witch Visits This Week

"In a way, the worldview of the Party imposed itself most successfully on people incapable of understanding it. They could be made to accept the most flagrant violations of reality, because they never fully grasped the enormity of what was demanded of them, and were not sufficiently interested in public events to notice what was happening.

By lack of understanding they remained sane. They simply swallowed everything, and what they swallowed did them no harm, because it left no residue behind, just as a grain of corn will pass undigested through the body of a bird."

George Orwell (1984)

The US dollar is approaching some key support levels, and gold is pushing up towards a potential neckline on a big inverse H&S formation.

Silver is a juggernaut while the markets are climbing on Fed provided liquidity and the global carry trades.

So, we either correct soon, or Benny takes us to the next level of debasement.

It would be nice to see gold finally hit that 1455 level I called out so long ago before it had broken out.

Option expiration at the Comex on Monday the 28th as shown on the calendar below, although any serious bear raids are likely to be at the end of this trading week.  They have not even sorted out the March deliveries yet in silver.  It is hard to imagine them losing control of price, although some day they most likely will.  Let's see how the metals fare, under the attack of Blythe Baba Yaga, the Silver Witch.

SP 500 and NDX Futures Daily Charts

Big gains on thin volumes. Stocks are held by weak hands.

It could go higher, but I do not believe this is an investable market.
Musical chairs for the nimbly positioned is more like it perhaps.

Hard to tell where things will go when the Banks are pumping up.

The markets were firmly in the United States of Amnesia today, sloughing off all the bad news in Japan, the Middle East, and with sovereign defaults.  But there was an 'edge' to the trade, with the wise guys keeping one hand on their wallet and a clear path to the door.