SP 500 and NDX Futures Daily Charts - APPL and Netflix

Stocks were lower much of the day, with a brief short covering pop into the close.

AAPL missed its numbers, both earnings and revenues in a big way, and the stock is down about six percent after the bell. They also guided lower on lackluster iPhone sales. There is some speculation that consumers are waiting for the new version.

Netflix is taking the gas pipe after hours, as it came in line on the numbers, but streaming subscribers was light. Stock is down ten percent.

Norfolk Southern nailed earnings but missed revenues.

UPS gave a forecast today that boded ill for the US GDP for the rest of the year, showing numbers in the one percent growth range.

Gold Daily and Silver Weekly Commentary

Gold and silver are still obviously coiling into a compression end formation.

Gold Continues Coiling

It is of course a matter of probability as to which way it breaks, and even moreso dependent on a few exogenous monetary events.

But the boundaries of breakout, subject to confirmation to weed out the headfakes, is not a mystery.

It could even resolve into a trading range, that is also well bounded, until someone pulls the trigger and turns the presses on high, or more properly, the din of their running reaches the ears of the public.