SP 500 and NDX Futures Daily Charts - The Arsenal of Hypocrisy

Stocks were in bounce mode today, off some fairly decent support below as indicated on the charts. Let's see if they can follow through tomorrow and make a dent in some meaningful overhead resistance, or if this was just a flash in the pan.

The economic news is not particularly good, and the smart money continues to shift out of equities from the statistics that I have been seeing.

That, however, does not mean that the algos will not take a crack at the bear specs if they start directionally leaning to the short side.

I comfort myself in knowing that I have the privilege of never, ever voting for Hillary Clinton, no matter what.   That in itself is a consolation.

Have a pleasant evening.

Asset Performance for the First Four Months of 2016 - Hi Yo Silver

"Day by day the money-masters of America become more aware of their danger, they draw together, they grow more class-conscious, more aggressive. The [first world] war has taught them the possibilities of propaganda ; it has accustomed them to the idea of enormous campaigns which sway the minds of millions and make them pliable to any purpose.

American political corruption was the buying up of legislatures and assemblies to keep them from doing the people's will and protecting the people's interests; it was the exploiter entrenching himself in power, it was financial autocracy undermining and destroying political democracy.  By the blindness and greed of ruling classes the people have been plunged into infinite misery."

Upton Sinclair, The Brass Check


"It’s not just political spin, however, that explains the rose-colored coverage [in the media]. Another explanation is that the media is plain stupid — quick to accept guidance from economists on Wall Street, for example, who have a vested interest in making everything wonderful."

John Crudele, Americans Have Not Gotten a Raise In 16 Years


“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”

Upton Sinclair, I, Candidate for Governor: And How I Got Licked

Just a fine time we're having in the great divide of wealth and power, masked and sustained by the lack of real reform and the credibility trap.

Speaking of 'stupid media' blithely passing along the spin from the Wall Street paper pushers, what assets outperformed stocks in the first four months of 2016?

Survey says: pet rocks.

Stock and Precious Metals Charts as of 2:30

I have places to go and papers to sign, so I will just post the charts as they look now.

It will be most interesting to see how stocks and the metals go into the close for the weekend.

If something notable happens I might add more to this tonight, but if not, then have a pleasant evening and a great weekend.

NAV Premiums of Certain Precious Metal Trusts and Funds

Modest premiums to say the least, especially given the sharp rally of the past few days.