Gold Daily and Silver Weekly Charts - Bubble Up To the Bar - As Time Goes By

Today Fed Chair Janet Yellen said that 'caution should be advised in raising rates.'

And the markets went off in the 'risk on' direction as the dollar slumped, stocks soared, and gold caught a bid as the smell of easy money for the foreseeable future was in the air.

This is nuts.

I suspect that the financial class is celebrating the end of the first quarter, or at least trying to give their fund performance that luster that attracts more investors and bigger bonuses.

It is just as likely some other Fed head will come out tomorrow and say things about the improving economy and the need to guard against wage growth and the kind of inflation that does not put money directly into the pockets of the money masters and their friends.

Do you ever get the feeling that the powers-that-be are no longer treating the US as a 'going concern?'
Lest we forget, the Non-Farm Payrolls report is coming out on Friday.  If it comes in hot, we might see some reversals.   And if it comes in weakly, perhaps more rally.   Let's see if they can steer this number through the Scylla and Charybdis of their credibility trap.   And don't forget to look for the prior month revisions.

March is historically a rough month for the precious metals.  Lets see how we get past this week, and if we can do something to set this handle and activate a bullish formation.

Gold continues to lead silver here, and that is all about the 'risk trade.'

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Painting the Tape For the End of Quarter

Today the US stock markets decided to celebrate the lack of a sustainable recovery and the slumping global economies of the world.

Janet Yellen sparked a brushfire rally in a dull market.  Yesterday was the lowest trading day of the year in terms of volume.

But I suspect this is all about getting the SP 500 up to positive, positive for the quarterly returns and bonuses that is.

Nothing else seems to matter.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Very Quiet Trade after Overnight Flash Crash

There was a 'flash crash' in the very quiet overnight, but gold managed to gain it back and then come, closing positive on the day.

Silver was quiet, holding its ground.

The Bucket Shop was delivery quiet last Friday, and there was a little bullion sloshing around in the warehouses as you can see below.

The subprime auto loans are starting to shift to the failure side, which is of concern to those chasing yield.

Bernie Sanders raised some eyebrows with landslide wins in three Western states over the weekend, and a big jump in public donations to his campaigns.

Today was largely a placemarker for the precious metals.

Non-Farm Payrolls report on Friday.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - And Quiet Flows the Con

Today was an exceptionally quiet day in the markets, with volumes off almost 30% from the twenty day moving average.

Most likely this is because of the number of people who are on Easter holiday, quite popular in Europe and a thing for the upper crust in the states.

Economic news came in weakly this morning, with a big downward revision in the prior month for consumer spending and this latest number barely positive.

Stocks are largely dependent on corporate buying which is an established trend that may be running out of gas, if not already running on fumes as corporate bosses squeeze the last dollars out of the business to keep up their bonus hopes.

Have a pleasant evening.