Stocks and Precious Metals Charts - The Great Moneto - Markets Wobble in the Wash and Rinse Cycle

 

"It would convert the Treasury of the United States into a manufactory of paper money.  It makes the House of Representatives and the Senate, or the caucus of the party which happens to be in the majority, the absolute dictator of the financial and business affairs of this country.  This scheme surpasses all the centralism and all the Caesarism that were ever charged upon the Republican party in the wildest days of the war or in the events growing out of the war." 

James A Garfield, Speaking on the Greenback Party Monetary Proposal, April 1880 

 

Stocks were loopy again today, for whatever reason one may wish or care to assign.

Silver and the Dollar declined a bit in value.

Gold managed to finish essentially unchanged. 

I still think that this is second half positioning (a kinder word for churning) by the well supplied and under-regulated financial interests that dominate Wall Street.

But let's keep our eyes open for any 'trigger events' even though this is an unlikely time of the year for major trend changes to the downside.

With thunderstorms running in its advance, the storm Elsa is going to be rolling over the NY metro area in the early morning hours tomorrow.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - Markets Wilting in the Summer Heat

 

The Fed Minutes today sent, or perhaps reinforced, a message of interest rate dovishness to the markets.

Stocks managed to hold some further gains, although the NDX big cap techs are appearing a bit stale.

Gold pushed up and managed to hold its gain.

Silver took a bit of a further decline.

We are in summer trading now, although it was a bit more lively as more senior traders came back from holiday.

The weather in the Northeast has been brutally hot, and even a wave of fairly impressive thunderstorms failed to cool things off.

Have a pleasant evening.

Stocks and Precious Metals Charts - Whipsaw - Starting the Second Half With a Wash and Rinse

 

It was a ranging day in what seemed likely to be a 'technical trade.' 

The financiers, flush with cash, felt like having a wash and rinse just to start the second half right.

Gold finished up, silver was lower.

Broader stocks were lower, but big cap techs managed to hold a decent gain.

The specs were likely whipsawed, by design.

Welcome to Thunderdome.

Have a pleasant evening.