SP 500 and NDX Futures Daily Charts - Bubble Up to the Bar

Stocks were in rally mode today, as it was risk on all the way.

The markets were cheered by Microsoft's results last night, and the love in between May and Merkel that is dispelling the Brexit fears.

After the bell today, Intel beat the numbers. However the markets were not impressed, as the numbers that INTC beat were recently lowered this week. It would have missed the numbers in place last Friday. Picky, picky.

Qualcomm and eBay were rallying after hours on their adjusted results.

Financial assets are in a bubble again, compliments of the Fed. It's what they do.

Too bad it does nothing positive for the real economy.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Summer Wind

"You will find that the truth is often unpopular and the contest between agreeable fancy and disagreeable fact is unequal. For, in the vernacular, we Americans are suckers for good news."

Adlai Stevenson

Funny but most people these days are also suckers for bad news too, especially news that spells doom and gloom and grim warnings about the imminent decline of the world as we know it. There are web sites that seem to specialize in it.

Maybe its not that the news had to be good, or bad, but extremely good or extremely bad. Maybe that says something about how overwhelmed we are becoming by 'news' so that only the real shocks can get our attention.

Most of life is just doing your daily chores, finding grace in simple things, and waiting. What one is waiting for says quite a bit about who they are.

Gold and silver were drifting largely sideways today in what can best be described as the 'Summer trade.'

We may see a little more action next week with the option expiration. Or some exogenous event could certainly liven things up.

Positional trading is fine, but short term trading markets like these tends to exhaust the retail trader with commissions.

Put more simply, short term trading these dull markets is for suckers, and those who prey on them.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Lazy Summer Trade

Stocks were a bit off for most of the day, but the futures managed to bounce up to nearly unchanged in the fifteen minutes of trading after the bell.

Earnings results from Microsoft et al. seem to be cheering the risk on trade.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Same Old

Patience stands on the twin pillars of faith and hope, and is sustained by love.

Next week is an options expiration on the Comex, on Tuesday the 26th.

There may be twists in the short term gold trade because of the thinness of the London gold float.

Ted Butler give us the lay of the land in the silver market - The Greatest Lie Ever Told.

Have a pleasant evening.