SP 500 and NDX Futures Daily Charts - Lazy Summer Trade

Stocks were a bit off for most of the day, but the futures managed to bounce up to nearly unchanged in the fifteen minutes of trading after the bell.

Earnings results from Microsoft et al. seem to be cheering the risk on trade.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Same Old

Patience stands on the twin pillars of faith and hope, and is sustained by love.

Next week is an options expiration on the Comex, on Tuesday the 26th.

There may be twists in the short term gold trade because of the thinness of the London gold float.

Ted Butler give us the lay of the land in the silver market - The Greatest Lie Ever Told.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - The Dog Days of Summer

It appears that the Reichstag fire in Turkey has not done any serious damage to the financial markets.

These are truly the 'dog days' of Summer, with oppressive heat and humidity, passing thunderstorms, and thin trading in the markets with a drift higher in the usual suspects.

Have a pleasant evening.

Jim Rickards On Financial Reform, Corruption, and Gold

Gold Daily and Silver Weekly Charts - Comex Expiry Next Week, Military Coup Underway In Turkey

“Have courage for the great sorrows of life and patience for the small ones; and when you have laboriously accomplished your daily task, go to sleep in peace.  God is awake.”

Victor Hugo

With shots fired and helicopters flying over Ankara, it appears that there has been a 'military uprising' in Turkey.  But it cannot be called a 'coup d'etat' according to their president.

The military has taken control of the country, according to them.

Gold was responding to this after the bell and is ending the day with some modest gains.  The Turkish lira and their stock ETFs were getting sold.

No shots were fired on Wall Street today, as the heat and oppressive humidity acted to urge most of the adults to leave around noon and head out for the shore breezes of the Jersey beaches and their palatial homes on Long Island.

Not being one to waste an opportunity, I took the queen and headed out West for Pennsylvania Dutch country for a pleasant day there, and did not come back until just after the close.

Gold and silver are sitting on support, on the verge of breaking out, but not quite yet.

Have a pleasant weekend.

"As they continued their journey he entered a village where a woman whose name was Martha welcomed him.
She had a sister named Mary who sat beside the Lord at his feet listening to him speak.

Martha, burdened with much serving, came to him and said, 'Lord, do you not care that my sister has left me by myself to do the serving? Tell her to help me.'

The Lord said to her in reply, 'Martha, Martha, you are anxious and worried about many things.
There is need of only one thing. Mary has chosen the better part and it will not be taken from her.'”

SP 500 and NDX Futures Daily Charts - Dog Days of Summer

Today's trading was thoroughly boring, and if you were around to watch most of it, particularly in the afternoon, then good on you. I did not. lol.

Key juncture here with stocks at decent overhead resistance levels. The dull trade is working in their favor.

Have a pleasant weekend.