Gold Daily and Silver Weekly Charts - And Now the Movie, Folks...

“A crowd whose discontent has risen no higher than the level of slogans is only a crowd. But a crowd that understands the reasons for its discontent and knows the remedies is a vital community, and it will have to be reckoned with."

Wendell Berry

Gold and silver gave up a little of their rather impressive gains for the year today.

I heard this was the strongest yearly start for gold since the 1970's.

There was little to no precious metals action in The Bucket Shop and its environs yesterday.

Watching the crestfallen faces of the MSNBC media muppets last night when Sanders stunned Hillary in Michigan was priceless.  Almost as good as watching Debbie Wasserman Schultz trying to silence Sanders supporters.

Most traders are watching what the European Central Bank, aka the Sons of Anarchy, Brussels Originals, will deliver in the way of stimulus tomorrow, most likely in the form of additionally negative interest rates, and how much.

So we should probably watch for it too.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Turn Bounce or Market Turn?

It was hard to tell if the little rally today was just a technical bounce or a real market turn.

Let's see what happens.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - The Waves Break Both Ways

Kilgore:
(gesturing to ocean)
See how they break both ways? One guy can break right, one left, simultaneous.
What do you think of that?

Lance:
I think we ought to wait for the tide to come up.

Apocalypse Now Redux

Gold and silver pulled back a bit from overhead resistance today.

The US dollar closed slightly higher in the DX index which is mostly a Yen-Euro-Pound metric.

The chart formations are all potential for now, with nothing having been resolved yet either way. The 'handle' on the gold chart *could* interpret and resolve as a handle, or an ascending wedge. The probabilities in a heavily politicized market are a bit cloudy.

As the Magic 8 ball says, ask again later.

There was little enough activity at The Bucket Shop yesterday.  And a little bullion was shoved around the warehouses, mostly in silver.

I have mostly given up on a voluntary resolution to our economic and financial troubles.   Reform is not an attractive option when you are winning...

There was intraday commentary for both silver and gold on the 'potential claims per ounce' and 'inflows to Western precious metal publicly disclosed holdings.'

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Who'll Stop the Rain?

Stocks managed to hold near their recent levels, pulling back a bit from overhead resistance.

There was nothing of note in the US macroeconomic news this morning as you can see below.

The markets are waiting to see what the ECB might do for the stagnant EU Zone economy.

I see that Hillary's campaign is pivoting to appeal to 'moderate Republicans.'

That's a change?

Have a pleasant evening.