Gold Daily and Silver Weekly Charts - The Fear

Gold was threatening to break out of the intermediate downtrend today but was smacked down rather hard just after the Fed beige book release.

The meme from the spokesmodels was that the economy is doing well enough so that no QE is needed for recovery, and this was implied by the Fed's observations.

I think there is fear and foreboding in Zombieland.

SP 500 and NDX Futures Daily Charts - Hogarth's The Cockpit

Today seemed a more 'technical trade' than anything else in equities, which were largely unscathed by the Fed Beige books as the demimonde informed us that the US can have a recovery without any more QE, making stocks cheap and gold dear.

Give it a week or a day.

The American Political Process In One Picture

"Money! It is money! Money! Money! Not ideas, nor principles, but money that reigns supreme in American politics."

Sen. Robert C. Byrd, March 20, 1997

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

I have my eye on 1320 on the SP 500 futures as a key resistance.

Gold is attempting to break out here.