Gold Daily and Silver Weekly Charts - It Never Gets Old

Gold and silver were capped by selling today.

I have included the gold 'shadow chart' to show the progress of what might turn out to be a handle type correction.

SP 500 and NDX Futures Daily Charts - Missing the Mark

Well, on the macro side both the Philly Fed and Leading Indicators were better than expected.

Earnings results were a hat trick of disappointments as Google, Chipotle, and Microsoft all turned in misses that took their stocks lower, less so for Microsoft the stodgy giant and greater for the flyers GOOG and CMG.

Microsoft is betting quite a bit on the Windows 8 software release, trying to regain a footing they are losing in the tablet and mobile world.

Microsoft and Chipotle released on schedule after the bell, but Google has a premature release during lunchtime as the publisher R. R. Donnelly accidentally released an filing prematurely.

It is not surprise that three consumer oriented stocks are lower. The financial system is strangling the real economy with the corruption of zombie rot.

GOOG was hurt quite a bit in revenue per click which may be a feature of the popularity of mobile apps which apparently do not provide as much revenue opportunity as conventional computing platforms. This may be explored on the conference call later this evening.

GOOG Boots Its Earnings Release and Shows Poor Results, Taking Tech Stocks Lower

In case you were wondering what happened to the US equity market, and in particular big tech like the NDX, trading was halted on GOOG until 3:20 PM EST after the premature release of their earnings which were lower than expected.

WSJ
Google Shares Fall on Premature Earnings
By John Letzing and Ben Fox Rubin

Google Inc. (GOOG) prematurely released its quarterly earnings midday Thursday, reporting that profit declined 20% as total costs jumped and advertising prices continued to slide.

The unexpected release, via a filing with the Securities & Exchange Commission, triggered a selloff in Google shares.

The stock dropped about 9% before trading was suspended and weighed on the broader Nasdaq Stock Market Indices...