SP 500 and NDX Futures Daily Charts

This was a relatively inconsequential half-day for the US equity markets.

Have a pleasant holiday.

Gold Daily and Silver Weekly Charts - Ho Ho Ho

Gold was slightly weaker and silver held firm in very light holiday trading, after a little more active overnight trade.

Not much is happening with gold at The Bucket Shop.  More ounces were claimed by JPM for their house account.

Silver continues to see movement in and out of the warehouse.  I wonder if this is because there really is not counterpart in silver to the massive physical trading occurring in Asia, especially in Shanghai and Hong Kong.

And apparently not just the precious metals are heading East.   Hong Kong surpassed New York in IPOs this year.

Talk about greed killing the golden goose.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Santa Claus Rally

Stocks continued to show modest gains today in light trading, despite some weaker than expected economic numbers this morning.

And so Santa is coming to Wall Street, with year end bonuses for all the little humps and humpettes.

I expect the trading tomorrow to be similar, lightly traded with an upwards bias. It will likely become comatose after the first hour.

Have a pleasant evening.