Gold Daily and Silver Weekly Charts

A rebound today from the bear market raids of yesterday. The action in the miners intraday was a little obvious. When you can come in and move a market with 1000 share orders you know it is a thin trade. The premiums of CEF and PHYS went into the red intraday and provided a potential opportunity. Took it for a ride, but Your Mileage May Vary.

I had a thought today, that when they make the film about how silver caused the fall of the House of Morgan, that Tilda Swinton would be a good choice for the role of Blythe Masters. For ideas on how to depict the final default in silver, Tilda's last scene in the movie Constantine might offer some ideas.

It's too bad that Leslie Nielsen has passed away, because he would have been interesting as Jamie Dimon. Christian Bale or Dan Akroyd would probably be a good second choices. Hugh Laurie?

Gilbert Gottfried would probably be great as Lloyd Blankfein.  He could probably get it just about right.

The right hand side of the rounded inverse H&S curve in the gold chart was set today hopefully, showing support about where it would have been expected.

Silver remains resilient. QE is here to stay without regard to what antics the Fed may engage in, or what nice words the politicians may use to wrap that dead fish.

Without reform, particularly in the financial sector, there will be no sustainable recovery. The FIRE sector is a regressive tax on the real economy and offers a serious drag on the recovery.

SP 500 and NDX Futures Daily Charts

Nothing is quite broken yet.

JPM's numbers did not thrill the markets this morning.

Gold Daily and Silver Weekly Charts

Both gold and silver tested the expected support levels of 1450 and 40 today and held those levels successfully.

Let's see what new variations on a theme that the TBTF banks will have for us, even as they start trotting out their earnings tomorrow.