Stocks and Precious Metals Charts - The Great Moneto - Markets Wobble in the Wash and Rinse Cycle

 

"It would convert the Treasury of the United States into a manufactory of paper money.  It makes the House of Representatives and the Senate, or the caucus of the party which happens to be in the majority, the absolute dictator of the financial and business affairs of this country.  This scheme surpasses all the centralism and all the Caesarism that were ever charged upon the Republican party in the wildest days of the war or in the events growing out of the war." 

James A Garfield, Speaking on the Greenback Party Monetary Proposal, April 1880 

 

Stocks were loopy again today, for whatever reason one may wish or care to assign.

Silver and the Dollar declined a bit in value.

Gold managed to finish essentially unchanged. 

I still think that this is second half positioning (a kinder word for churning) by the well supplied and under-regulated financial interests that dominate Wall Street.

But let's keep our eyes open for any 'trigger events' even though this is an unlikely time of the year for major trend changes to the downside.

With thunderstorms running in its advance, the storm Elsa is going to be rolling over the NY metro area in the early morning hours tomorrow.

Have a pleasant evening.

 

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.