SP 500 and NDX Futures Daily - Holy Volatility!

The upcoming election seems to be setting a chill on the financial class.

Today was the eighth consecutive down day for US stocks, the most since 2008.

The declines, however, have been relatively modest, with the indices showing what appears to be a normal correction of less than 10%.

Volatility as measured by the VIX, which might be better called 'uncertainty,' continued rising as can be seen from the chart below.

Non-Farm Payrolls tomorrow may move the markets, but I suspect that the bigger overhang is the upcoming US elections next week Tuesday.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Much Ado About Nothing

There was a posting on the NAV of some of the precious metal trusts and funds intraday here.

And there was also a short piece on the competing crime families that are our two established political parties here.

Gold and silver had a nice spike higher earlier in the day on a lower dollar as you can see in the charts below.

The metals gave back some of their gains into the close.

The FOMC did not seem to affect them much despite its dovish waffling and wistful desire to raise rates at least once before the end of the year in December.

The clearing (delivery) reports were brisk for gold and meh for silver.   And the reverse for the warehouse reports as silver keeps moving metals in and out, and the gold bullion sits there and looks pretty while the punters swap a pyramid of IOUs per ounce for it.

Let's see if the metals can keep the move going higher.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Sixteen Tons

Election and geo-political jitters still had stocks slump for yet another day as even a largely dovish sounding statement from the FOMC could not cheer the markets.

The selling is starting to look a little overdone for the short term, and VIX seems a bit 'peaky.'

Facebook beat their numbers after the bell. And the market greeted the news with yawns, focusing on one of the mobile numbers apparently.

Fitbit posted a big loss and lower guidance, and the stock was being monkey-hammered after hours.

Let's see what happens.

Have a pleasant evening.

NAV Premiums of Certain Precious Metals Trusts and Funds

Sprott continues to add units for cash and metals.

CEF has decreased their cash and the number of units outstanding since the last time that I noted their holdings.

I did not see a recent press release with regard to any buying back of units for cash.