Gold Daily and Silver Weekly Charts - Counting the Cars on the NJ Turnpike

"It does not matter how small the sins are, provided that their cumulative effect is to edge the man away from the Light and out into the Nothing. Indeed the safest road to Hell is the gradual one--the gentle slope, soft underfoot, without sudden turnings, without milestones, without signposts."

C. S. Lewis, The Screwtape Letters

Gold and silver managed to poke their heads a little higher today, struggling against strongly defended overhead resistance.

There were some deliveries in the Comex licensed gold and silver warehouses as noted on the reports below.

Reform ignored still comes, sooner or later. What might have once been clear and simple at first has been made into something more complicated by long repression and denial. What is both wondrous, and awful, is when that change finally comes, and what may be coming with it.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Richard Cory

Stocks were drifting a bit today, consolidating the big gains from the first day of March yesterday.

The ADP jobs number was better than expected this morning, which caused some to reflect on the coming Non-Farm Payrolls Report, and the likely actions of the Fed at their March FOMC meeting.

As I noted yesterday, traders are heavily hedging their stock positions in the options market. They seem to be pricing a 'big move' in to overall market stance. But I am wondering why this 'anecdotal evidence' is not showing up in the VIX, which is a measure of the difference in call and put option prices.

In other news, the ex-CEO and fabled 'father of US shale oil,' one of Oklahoma City's leading citizens, and NBA team co-owner Aubrey McCendon died last night in a fiery car crash.  Police are investigating.  There were no other cars involved, and no skid marks on the road.   Mr. McCendon went off the road in his car at a very high rate of speed.  They said he 'drove straight into a wall.'

Mr. Mcclendon had been indicted yesterday by the Justice Department with conspiracy in rigging the prices of oil leases and using loans to benefit his personal stakes in wells from the company.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Though the Darkness Hide Thee

"The wealth of another region excites their greed; and if it is weak, their lust for power as well. Nothing from the rising to the setting of the sun is enough for them. Among all others only they are compelled to attack the poor as well as the rich.

Robbery, rape, and slaughter they falsely call empire; and where they make a desert, they call it peace."

Tacitus, Agricola

Gold and silver held their own reasonably well in the face of a powerful technical rally in US equities, a 'risk on' moment wherein there was a rush to paper assets, led by gains in big financials and tech unicorns.

There was minimal delivery activity in The Bucket Shop yesterday, not even worth reporting.  There was a little shuffling of bullion in the warehouses;  silver continues leaking out.  And it bears watching, because the central banks do not have any.

The US doleur du monde continued to add a little to its rally, as noted in the chart below.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Beautiful Rally On the Outside, But Ugly to the Bone

"Woe to you, hypocrites! You are like whitewashed tombs, which look beautiful on the outside, but on the inside are full of every form of foulness and decay, and dead men's bones."

US equities rallied today on the 'better than expected' economic news this morning. As if.

There was quite a bit of 'hedging' behind the scenes for this advance today, led higher by financials and tech.

Let's see how we end the week.

Have a pleasant evening.