Stocks and Precious Metals Charts - Just Another Manic Monday - US Markets DeFANGed

“Don't panic.”

Douglas Adams, The Hitchhiker's Guide to the Galaxy

Europe was closed today for the day after Easter holiday.

The US markets opened rather weakly, based in large part on continuing disappointments in the overvalued big cap tech stocks, and the mispricing of the risks in the international trade and geopolitical conflict scenarios.

Trumpolini is keeping things lively on the international trade front with China and Mexico.

The markets broke down to their lows in the mid-afternoon, but managed to rally back a bit into the close.

It will be interesting to see how Asia and Europe will react to this shaky tableau of pigs with lipstick.

There was an obvious flight to safety in gold and silver, and the US Dollar as well as all three moved higher.

There will be a Non-Farm Payrolls report on Friday.

I have to say that despite the losses the US markets were rather well-behaved, and followed along with the support and resistance levels on my charts with a consistenty that made me a little surprised.

In other words, despite the deep selling with the DJIA down almost 700 points during the day, there was very little panic in the air.

It may take a bit of a selling panic and bull capitulation to finally strike a bottom in these whipsawing markets we have been enjoyed for the past few weeks.

We had a wonderful Easter dinner yesterday, with turkey and all the trimmings for ourselves and some extended family. We had the windows open as it was in the 60's with a very nice breeze and mild humidity.

Imagine our surprise when we woke this morning to about four inches of snow covering everything, even the roadways. Odd sort of snow for April.

More oddities may be seen in the days to come.

Have a pleasant evening.

Easter 2018

"Do not abandon yourselves to despair. We are the Easter people and hallelujah is our song."

John Paul II


"Without a doubt, at the center of the New Testament there stands the Cross, which receives its interpretation from the Resurrection."

Hans Urs von Balthasar

"Let us feel what we really are- sinners attempting great things. Let us simply obey God’s will, whatever may come. He can turn all things to our eternal good. Easter day is preceded by the forty days of Lent, to show us that they only who sow in tears shall reap in joy.

The more we do, the more shall we trust in Christ; and that surely is no morose doctrine, that leads us to soothe our selfish restlessness, and forget our fears, in the vision of the Incarnate Son of God.

May the Lord support us all the day long, till the shades lengthen, and the evening comes, and the busy world is hushed, and the fever of life is over, and our work is done. Then in His mercy may He give us safe lodging, and a holy rest, and peace at last.”

John Henry Newman

Stocks and Precious Metals Charts - End of the First Quarter

"Greater love hath no one than this: to lay down their life for their friends. You are my friends if you do what I command...

And this is my commandment—  love one another."

John 15:13,17

Stocks managed to end the first quarter in very quiet trading with an afternoon rally.  Oh, well done.

Gold, silver, and the US Dollar were largely unchanged.

Bloomberg says that the Treasury Yield curve is the flattest it has been since 2007. You don't see that every day. lol.

Federal Regulators decided not to challenge a lower court ruling that exempts Collateralized Loan Obligations (CLO) from the 'skin in the game' rule of Dodd-Frank.

Like a dog returns to its vomit, here we go again.

Speaking of which, there will be a Non-Farm Payrolls Report for March next Friday.

Need little - Want less - Love more.

Happy Easter.

Have a pleasant weekend.