Stocks and Precious Metals Charts - The Everything Rally

 

“The second factor contributing to speculative euphoria and programmed collapse is the specious association of money and intelligence.

There can be few fields of human endeavor in which history counts for so little as in the world of finance.”

John Kenneth Galbraith, A Short History of Financial Euphoria

 

"I'll give you the bottom 10% and the top 10% of any move if I get to keep the middle 80%." 

Bernard Baruch

 

“Big movements take time to develop.”

Jesse Livermore, Reminiscences of a Stock Operator

 

Stocks were on a tear today with the SP 500 and the Nas100 setting new highs.

The big cap techs were leading the way.

Gold and silver rallied strongly as well, running up to the overhead resistance that marks the top of the current trading range.

The Dollar was off a bit.

Despite very good economic news Treasury yields were off a bit.  

This was the major catalyst for the rally.

Tomorrow will be the option expiration.

Stocks look extended.  They can get even more extended.

Have a pleasant evening

Stocks and Precious Metals Charts - Shenanigans

 

“Be kind, for everyone you meet is carrying a heavy burden.” 

Ian MacLaren 

 

“The books which the Holy Spirit is writing are the living, with every soul a volume in which the divine author makes a true revelation of His word, showing it to every heart, unfolding it in every moment.  

There is not a moment in which God does not present Himself under the cover of some pain to be endured, of some consolation to be enjoyed, or of some duty to be performed.  All that takes place within us, around us, or through us, contains and conceals His divine action.  All simple souls must admire and respect one another, saying: 'Let us each proceed along our path to the same goal, united in purpose and by means of God's order which, in its great variety, is in us all.' 

To escape the pain caused by regret for the past or fear about the future, this is the rule to follow: leave the past to the infinite mercy of God, the future to His good Providence, and give the present wholly to His love by being faithful to His grace.” 

Jean-Pierre de Caussade

 

More of the same. 

This will probably continue until the option expiration. 

Cryptocurrencies are tulip bulbs, without the practical beauty. 

At some point the reversion to the mean is coming, and it may be a rough ride. 

Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Risky Business

 

It was a long day for me, so just charts tonight. 

There will be a stock option expiration on Friday. 

 Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Stock Option Expiration on Friday

 

“One reason we rush so quickly to the vulgar satisfactions of judgement, and love to revel in our righteous outrage, is that it spares us from the impotent pain of empathy, and the harder, messier work of understanding.  Let me propose that if your beliefs or convictions matter more to you than people—if they require you to act as though you were a worse person than you are—you may have lost perspective.” 

Tim Kreider 

 

“What comes out of a person, that is what makes them unclean.  From within people, from their minds and hearts, come wicked thoughts, immorality, theft, murder, adultery, greed, malice, deceit, licentiousness, envy, blasphemy, pride, and foolishness.  All these evils come from within and they make one unclean.”

Mark 7:20-23

 

“A proud man is always looking down on things and people; and, of course, as long as you are looking down, you cannot see something that is above you.” 

C. S. Lewis 

 

Stocks were initially weak, but managed to finish up in the green to unchanged.

How unusual. 

Gold and silver were under pressure all day, but managed to hold on to support.

The Dollar was unchanged.

There will be a stock option expiration on Friday.

 Have a pleasant evening.