SP 500 and NDX Futures Daily Charts - Miles Gloriosus

Stocks were drifting today in very light holiday trade, further dampened by foul weather in the NYC metro area.

The economic news this morning was quite poor, and lending some credence to the somewhat artificial nature of the GDP revision higher from earlier this week.

US markets will be effectively closed for the rest of the week, in observance of the Thanksgiving holiday.

Have a pleasant weekend.

 

 

 

Gold Daily and Silver Weekly Charts - Refreshing Resilience

Gold and silver held their prices well today with silver actually gaining some ground. Not bad for the day after a Comex option expiration.

This Friday the December contract becomes active on first notice, so we might see some changes in open interest.

Not much to report in the delivery category, but the Comex warehouse show the continued drip, drip of bullion out of their domains.

There is a nor'easter moving up the eastern seaboard now that will be arriving in the New York metropolitan area tomorrow morning.  It will be bring snow to the western and northern suburbs, which may dampen an already quiet trading day before the four day holiday weekend.

 

Goldman, HSBC, and BASF have been accused of rigging the price of platinum and palladium.  Gold and silver must be the only two global markets that haven't been rigged, if one is to believe that sort of thing.

 

But we know that they have been, and continue to be.  And that there will be consequences.

 

Have a pleasant evening.

 

 

 

 

SP 500 and NDX Futures Daily Charts - Big Wheel Keep On Turning

The GDP estimate came in on the high side revision today showing what a marvelous recovery we are enjoying.

Too bad not much else is showing growth. Maybe this is one of those recoveries that is localized to the well-to-do.

The market is drifting higher on low volumes, and do not expect tomorrow to be much different 'unless something happens.

Have a pleasant evening.