Stocks and Precious Metals Charts - Markets Wilting in the Summer Heat

 

The Fed Minutes today sent, or perhaps reinforced, a message of interest rate dovishness to the markets.

Stocks managed to hold some further gains, although the NDX big cap techs are appearing a bit stale.

Gold pushed up and managed to hold its gain.

Silver took a bit of a further decline.

We are in summer trading now, although it was a bit more lively as more senior traders came back from holiday.

The weather in the Northeast has been brutally hot, and even a wave of fairly impressive thunderstorms failed to cool things off.

Have a pleasant evening.

Stocks and Precious Metals Charts - Whipsaw - Starting the Second Half With a Wash and Rinse

 

It was a ranging day in what seemed likely to be a 'technical trade.' 

The financiers, flush with cash, felt like having a wash and rinse just to start the second half right.

Gold finished up, silver was lower.

Broader stocks were lower, but big cap techs managed to hold a decent gain.

The specs were likely whipsawed, by design.

Welcome to Thunderdome.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - The Calling of Matthew - US Markets 'Goldilocks' Rally Into Holiday Weekend

 

"As Jesus left there he passed by a man named Matthew, sitting at his desk in the tax-collector’s office. “Follow me!” he said—and the man got to his feet and followed him. 

Later, as Jesus reclined at a table in Matthew's house sitting, a good many tax-collectors and other notorious sinners came in and sat with him and his disciples. The Pharisees noticed this and said to the disciples, 'Why does your master have his meals with tax-collectors and sinners?' 

But Jesus heard this and said, 'Those who are strong and flourishing do not have need of a physician, but rather those who are weak and afflicted.   Go now, and think about what this Scripture means: ‘I desire that you show mercy, and not sacrifices.'”

Matthew 9:9-13

 

"It is very easy to get drunk with hate. Hate is like the glass of whisky which is given to the soldiers before a bayonet charge. Whisky stimulates but does not nourish.  Hate is not creative, only love is creative.” 

Maximilian Kolbe, Auschwitz

 

"Kolbe looked directly and intently into the eyes of those entering the cell.  Those eyes of his were always strangely penetrating.  The SS men couldn’t stand his glance, and used to yell at him, Schau auf die erde, nicht auf uns!  Kolbe was a psychic trauma, a shock for the SS men who had to bear his look, a look that hungered not for bread, but to liberate them from evil."

Bruno Borgowiec, a prisoner at Auschwitz

 

A good solid 'Goldilocks' number. 

This was the pom-pom punctuated chant of the Wall Street pundits and spokesmodels today.

The SP 500 and particularly the big cap tech laden NDX rose to new highs today.

But on lighter than usual volumes.

The adults in the room went on holiday around mid-day and closed the door to the bond market behind them.

Gold and silver bounced briskly off the end-of-quarter smacking they took the other day.

What a surprise.

Let's see if they can build off this latest event driven double bottom.

Survey says 'probably.'   lol

Barring some unforeseen event, it looks like a teeth-chattering correction in the markets will be due around mid to late August, with echoes into September, and perhaps beyond. 

So until then, all is well, right?

The US markets will be closed for the July 4^th holiday weekend on Monday.

Have a pleasant weekend.

 

Stocks and Precious Metals Charts - Gifts for Our Hardened Hearts

 

Burnand, Peter and John Running to the Sepulchre on the Morning of the Resurrection.

"Observing the boldness of Peter and John and perceiving them to be uneducated, ordinary men, they were amazed, and they recognized them as the companions of Jesus.  Then when they saw the man who had been cured standing there with them, they could say nothing in reply.   So they ordered them to leave the Sanhedrin, and conferred with one another, saying, “What are we to do with these men?  Everyone living in Jerusalem knows that a remarkable sign was done through them, and we cannot deny it."

Acts 4:13-16

 

"The blessed John the Evangelist lived in Ephesus until extreme old age.  His disciples could barely carry him to church and he could not muster the voice to speak many words.  During individual gatherings he usually said nothing but, 'Little children, love one another.'  The disciples and brothers in attendance, annoyed because they always heard the same words, finally said, 'Teacher, why do you always say this?'  He replied with a line worthy of John: 'Because it is the Lord's commandment, and if it alone is kept, it is sufficient.'" 

Jerome, Commentary on Galatians, 4th century 

 

"I have learned how to be content with whatever I have. I know how to live on almost nothing, or with everything.  I have learned the secret of living in every situation.  And I have learned to be thankful, whether empty or full." 

Philippians 4:11-12

 

The markets are edging back and forth, waiting for the Non-Farm Payrolls report tomorrow, ahead of a three day holiday weekend for the 4th of July.

Let's see what happens.

Just as there are three great virtues, faith, hope and love, in opposition to them our hardened hearts give rise to the three great sins:  pride, despair, and greed. 

But as a remedy to our foolishness we have been freely given three greatest gifts: repentance, forgiveness, and thankfulness.

The choice is ours.

Have a pleasant evening.