Stocks and Precious Metals Charts - Prelude to a Wash and Rinse - Fed May Raise Rates Twice in 2023

 

"Don’t be fooled into letting the actions of others determine your joy.  True joy comes from knowing that God Himself lives within you and has fellowship with you, regardless of your environment.  Real joy lies in the knowledge that holy God has completely forgiven you of every sin, and even now, He has a home prepared in heaven where you can spend eternity with Him. 

The circumstances of your life cannot change these truths.  Do not allow difficult events to cancel the joy of knowing you are a child of God.  Choose to allow God’s Spirit to fill you with His unquenchable joy, and your life will be a miracle to those who watch you face the trials that come." 

Henry Blackaby, Choose to Rejoice

 

"Greed is not good.  Greed is a disease, an aberration of honest ambition and necessary provision, taken to excess.  This simple distinction may be lost on a people no longer able to distinguish between virtue and sin, honor and expediency, appetite and gluttony, the means and the ends.  Every great religion, every school of philosophy has cautioned throughout history on the perils of unbridled and unregulated greed. 

And yet this generation would make a god of it, although they may not understand, or care, what it is that they are doing, and whom it is they serve.  And yet they will be held to account for their willfulness, foolishness, and casual disregard for others.  

Greed, often in company with hubris or fear, is a handmaiden of the corrupting influence of power and triumph of the will.  

Greed is contagious, and attacks the very contentment of society at its heart, turning it towards oligarchy and oppression. As Erich Fromm observed, 'Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction.'"  

Jesse,  Greed Is Not Good, December 2010

“The real conflict is the inner conflict.   Beyond armies of occupation and the catacombs of extermination camps, there are two irreconcilable enemies in the depth of every soul: good and evil, sin and love.  And what use are the victories on the battlefield if we are ourselves are defeated in our innermost selves?”

Maximilian Kolbe

The Fed surprised the markets today by suggested they may raise rates two times in a couple of years.

The Dollar rallied.

Stocks dropped sharply, but managed to regain much of their losses in the afternoon.

Gold and silver were hit and did not bounce much off the lows.

There will be a stock market option expiration on Friday.

Have a pleasant evening.

Stocks and Precious Metals Charts - Wash Cycle

 

Stocks were off a bit today. 

Gold and silver were lower. 

The miners were sold.

The Dollar was unchanged. 

FOMC decision tomorrow.

Stock option expiration on Friday.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - All Eyes on the Fed - FOMC on Wednesday

 

“Fraud and falsehood only dread examination. Truth invites it.

Whoever commits a fraud is guilty not only of the particular injury to him who he deceives, but of the diminution of that confidence which constitutes not only the ease but the existence of society." 

Samuel Johnson 

 

Stocks were on a late afternoon tear, led by the real meme stocks, the big cap techs. 

The Dollar edged a bit lower.

The VIX show a decline in the perception of risk.  Or at least an increase in the mispricing of it.

Gold and silver were hit very hard in the quiet overnight trading.

They recovered quite a bit from the overnight losses, but still finished the day a bit lower. 

The big tickle this week is the FOMC meeting on Wednesday.

This is a non-organic economy, and the stock market reflects that fully in its lack of value fundamentals and underpinnings.

One of the best indicators of this is the current declines in the velocity of money.   There is very little organic growth from the money the Fed is throwing at the financial system and their patrons in one percent.

I doubt it will happen, but if M2 Velocity approaches zero the risk of a more serious monetary inflation becomes much greater.    Tra la.

Adding to the state of shenanigans, there will be a stock market option expiration on Friday.

A bloodbath is coming in financial asset valuations.   It is a matter of time now.

Probably later this year, or next, depending on how long the moneyed interests and their financiers can keep the long con going. 

They will be weighed, and found wanting.   And no one could have seen it coming.

Have a pleasant evening.

 

 

 

Stocks and Precious Metals Charts - Snooze-a-rama - Just Another Day in the Oligarchy

 

"A highway will be there, called the holy way;
No one unclean may pass over it, but it will be for his people;
no traveler, not even fools, shall go astray while on it."

Isaiah 35:8

 

"You are the very cause of your ignorance, yourselves. You put away the light, yourselves; you first pluck out both your own eyes, yourselves; and after that other men’s too, so that the blind may lead the blind, until you both fall into the pit.” 

Thomas More 

 

"How vainly seek
The selfish for that happiness denied
To aught but virtue! Blind and hardened, they,
Who hope for peace amid the storms of care,
Who covet power they know not how to use,
And sigh for pleasure they refuse to give,--
Madly they frustrate still their own designs;
And, where they hope that quiet to enjoy
Which virtue pictures, bitterness of soul,
Pining regrets, and vain repentances,
Disease, disgust and lassitude pervade
Their valueless and miserable lives."

Percy Bysshe Shelley, Queen Mab

 

Stocks were just oscillating around in lackluster and largely meaningless trading.

A last minute goose higher into the close gave the spokesmodels an excuse to pump their pom-poms for a 'record close' on the cash SP 500.

Huzzah.

Gold was lower on the Dollar cross.

Silver eventually followed.

There will be a stock market option expiration next week.

Have a pleasant weekend.