Gold Daily and Silver Weekly Charts - Bounce Led By Silver

"Besides the Bank's money, the Bank holds the Title Deeds, and the houses and hotels prior to purchase by the players. The Bank pays salaries and bonuses. It sells and auctions properties and hands out the proper Title Deed cards when purchased by a player, it also sells houses and hotels to the players and loans money when required on mortgages.

The Bank collects all taxes, fines, loans and interest, and the price of all properties which it sells and auctions.

The Bank 'never goes broke.' If the Bank runs out of money, the Banker may issue as much as needed by writing on any ordinary paper."

Official Monopoly® Game Rules, The Bank

Sounds like the spirit of modern fiat money to me.

Despite an intraday 'gut check' of selling that came out of nowhere, the precious metals finished higher, as stocks faded.

Non-Farm Payrolls on Friday.

I cannot help but notice that Harvey Organ has not updated his site since Saturday. I hope that this is just a work respite, and that he has not encountered any health or personal troubles. His comments are missed, and he is in our thoughts.

SP 500 and NDX Futures Daily Charts

The SP March futures failed at their second attempt today to take out the intermediate measuring objective of 1540, as the tech NDX was a weight on the market.

The Fed Beige book today indicated that QE is failing to stimulate commercial activity and lending. Given that the hot money is being packed in the reserve of the biggest Banks, and used for speculation and bonuses, that is not surprising. Let's call that 'trickle down stimulus.'

Non-Farm Payrolls on Friday.

Classic Nor'easter Winter Storm 'Saturn' to Hit New York Area Tonight

It is certainly no Hurricane Sandy but it has dumped over a foot of heavy snow on parts of Virginia so far today.

It has achieved a nice circular rotation. The snowfalls will depend greatly on where the rain/snow lines are drawn by rising late winter temperatures. 

For now it looks like a rain event for most, with some heavy wet snow showing up overnight with the greater accumulations to the south and west of the City.   

We will have to see if it has any impact on NY trading tomorrow.

US National Weather Radar Map

The Week in Economic Data: Another Non Farm Payrolls Friday

It appears as though 'trickle down' stimulus is not having its desired effect according to today's Fed Beige Book.

Fed's Beige Book Fails To Stimulate More Lending - Forbes

Jobs Report on Friday.