Gold Daily and Silver Weekly Charts - Though the Darkness Hide Thee

"The wealth of another region excites their greed; and if it is weak, their lust for power as well. Nothing from the rising to the setting of the sun is enough for them. Among all others only they are compelled to attack the poor as well as the rich.

Robbery, rape, and slaughter they falsely call empire; and where they make a desert, they call it peace."

Tacitus, Agricola

Gold and silver held their own reasonably well in the face of a powerful technical rally in US equities, a 'risk on' moment wherein there was a rush to paper assets, led by gains in big financials and tech unicorns.

There was minimal delivery activity in The Bucket Shop yesterday, not even worth reporting.  There was a little shuffling of bullion in the warehouses;  silver continues leaking out.  And it bears watching, because the central banks do not have any.

The US doleur du monde continued to add a little to its rally, as noted in the chart below.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Beautiful Rally On the Outside, But Ugly to the Bone

"Woe to you, hypocrites! You are like whitewashed tombs, which look beautiful on the outside, but on the inside are full of every form of foulness and decay, and dead men's bones."

US equities rallied today on the 'better than expected' economic news this morning. As if.

There was quite a bit of 'hedging' behind the scenes for this advance today, led higher by financials and tech.

Let's see how we end the week.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Goodbye to February, Non-Farm Payrolls on Friday

And so we close the door on the leap year-lengthened month of February, which was a particularly good month for gold.

And as always with the end of one month and the beginning of another, there will be a Non-Farm Payrolls report at the end of this week.

Gold is clearly in a symmetrical triangle, trying to decide which way to break, up or down, from this potential 'cup and handle' formation.  And remember right now it is all potential, not having set a firm handle and broken up and out from that retest.

I included some material from a few years ago that shows the formation when it works in both a textbook and a 'real life' example.  You may read about it here.

I have included the box scores from The Bucket Shop, both for the end of February and the piddling deliveries seen so far on the March contracts.

If you are looking for the web site Confounded Interest and are puzzled why it is missing in action, be advised that dissenting from the Federal Reserve and the established economics hierarchy of thought is not tolerated well amongst the very serious people, and those who do not pay their respects to the established orthodoxy can find themselves dispossessed of platforms.

Especially if they say things that draw the ire of those for whom free speech and thought is merely a theoretical concept, for themselves mostly.  No, we are in the age of political and economic power, the rawer the better.   And we could get quite an object lesson in this from either the Donald or the Hillary.  Could there be two better symbols for what is going wrong with us?

No wonder they 'never see it coming.'  They have their eyes closed, or just firmly on themselves and their possessions.  And they would like you to close yours too.

Have a pleasant evening.