Gold Daily and Silver Weekly Charts - Stocks To Record Highs on Complacency

Gold held in rather well considering the new lows in the VIX and the new highs in stocks.

As a reminder, tomorrow is the March stock option expiration.

SP 500 and NDX Futures Daily Charts - 10th Rally Day, SP Nears Record - Complacency

Another new record high on the Dow Jones Industrials, as the SP 500 approaches its all time high set in 2007.

Bernanke is creating another asset bubble, once again in equities.

Check out the VIX. I bought some VIX as insurance. Tomorrow is stock option expiration for March.

I rolled my futures charts over to the June contract today. The new objective for the SP is in the 1565 to 1570 range.

 

Gold Daily and Silver Weekly Charts

As a reminder this Friday is the option expiration for US equities.

Monday March 25 will be the option expiration for gold and silver on the Comex. This year's calendar is included below.

Today the miners were sold as the metals retreated a bit.

SP 500 and NDX Futures Daily Charts - Recurrent Complacency Into Option Expiration

VIX fell back as the Dow moved to another record high intraday led by IBM.

SP managed to rally back into the close, but the NDX continued to show a divergence.

As you know I have a chart objective of 1570 working on the March SP futures, which will be rolling over to June shortly, and the target will be about five points lower at 1565. June closed at 1550 today.

This Friday will be the March option expiration for stocks.