SP 500 and NDX Futures Daily Charts - Lazing on a Summer Afternoon

FOMC minutes tomorrow may put a spark into this snoratorium.

 

Gold Daily and Silver Weekly Charts - Goldman Was Buying Gold While They Were Saying 'Sell?'

Gold and silver had quiet pullbacks today as the markets digested some of their recent gains.

Overall trading is very quiet as many traders are on their summer vacations.

Registered inventory bounced back up a little bit last week, but remains rather thin and indicative of an intermediate trend change.

A reader informs us that:

"For those with a bloomberg terminal, type up the command: {GLD Equity PHDC1 } ... GS bought $5b USD of GLD last quarter, while they were pitching their "sell gold" call to the world."

Note: I think that is $500 Million and not $5 Billion.

SP 500 and NDX Futures Daily Charts - Lowest Volume August In Ten Years

The trading has been almost entirely technical today with the momentum traders following algos around the track.

I suspect most of the adults are on their summer vacation this week.

FOMC minutes is the highlight of the economic news on Wednesday.