Stocks and Precious Metals Charts - The Summer Wind

 

“There is nothing more deceptive than an obvious fact.”

Arthur Conan Doyle, The Boscombe Valley Mystery 

 

“La plus belle des ruses du diable est de vous persuader qu'il n'existe pas."
(The devil's finest trick is to persuade you that he does not exist.)

Charles Baudelaire

 

“Falsehood flies, and truth comes limping after it, so that when men come to be undeceived, it is too late; the jest is over, and the tale hath had its effect.” 

Jonathan Swift

 

Stocks were edgy again today, managing to hold their ground at the end.

Small caps were leaders, with the Russell 2000 nearing a new all time high.

Gold and silver were off a bit.

The Dollar was marginally higher.

The markets are looking ahead to the Consumer Price Index later this week.

And for what other reason?  

The Fed.  Mother of bubbles.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - We're Having a Heat Wave - Temps de Folie

Stocks were a bit woozy this morning.

The SP 500 never really did regain its footing and finished slightly lower.

The NDX powered higher led by the biotechs.

Gold and silver were up a bit, actually going out near their highs after the morning lows.

The Dollar drifted a little lower, giving up the 90 handle, but by just a little.

Need little, want less, love more.  For those who abide in love abide in God, and God in them.

Have a pleasant evening.

Stocks and Precious Metals Charts - Jobs Lite - Markets Rebounding on Hopes for Continuing Fed Dovishness

 

The Jobs Report came in significantly weaker than expected, and certainly well short of the expansion implied by the ADP Report.

But the BLS reports are a funny old thing.

And so stocks and the Metals rebounded sharply, and the Dollar took a give back towards the 90 handle.

I really do not have a feel for the metals here, and am sticking with the sidelines for now.

They are attempting to break out, but are meeting some stubborn resistance.

It appears that JPM is in the middle of this.

Have a pleasant weekend.

 

Stocks and Precious Metals Charts - Jobs, Jobs, Jobs

 

"The Lord is my light and my salvation –
        whom shall I fear?
The Lord is the refuge of my life –
        of whom shall I be afraid?" 

Psalm 27

 

“Imaginary evil is romantic and varied; real evil is gloomy, monotonous, barren, boring.  Imaginary good is boring; real good is always new, marvelous, intoxicating.  Everything beautiful has a mark of eternity.” 

Simone Weil

 

The markets were shocked this morning by a much better than expected ADP private payrolls jobs added report

The implication was that the Non-Farm Payrolls number tomorrow would also be much better, and thereby put pressure on the Fed to taper from its easy money policy much soooner than expected.

There were losses across the board in equities.

But, to the rescue, President Biden suggested that he would shift from his 28% corporate tax rate to a 15% floor, or a minimum tax.   He is attempting to placate the GOP.

But gold and silver would only recover a bit of their losses, still showing red into the close.

I had noticed that JP Morgan had dumped 7,000 June gold contracts from their house account earlier this week.   

One can only wonder.

The Dollar retained much of its gain.

Non-Farm Payrolls tomorrow. 

Let's see where its latest estimation of the jobs meme might be.  It is hard to predict all things considered.   

'Adjustments' abound.

Keep an eye out for the average hourly wage, remembering that this is hardly an average recovery.

Have a pleasant evening.