SP 500 and NDX Futures Daily Charts - Risk On! - And Then Not So Much

Stocks were rallying this morning on optimism that Brexit would fail.

But it was just a gimmicky way of handing that pessimistic crew, the bears, a gut check on their short holdings.

Janet speaks this week to the Senate, and the British people will vote on Thursday the 23rd.

I suspect these two events will be the greatest influences on the short term trades.

Have a pleasant evening.

JR Smith's Tribute to His Parents

JR Smith's pro basketball career certainly has had its ups and downs, and some serious low points.  He was written off by several teams in the past as a player.  When he was traded to the Cavaliers, he was 'thrown in' as a freebie.

Real champions bring out the best in other people, their co-workers and teammates, in addition to doing well themselves.  No one wins unless everyone wins.

This was a nice Father's Day Present.

Shanghai Silver Deliveries Are Booming

Silver deliveries are booming in China.

Gold Daily and Silver Weekly Charts - Like a Leaf Upon the Water

So let me go like a leaf upon the water
Let me brave the wild currents flowing to the sea
And I will disappear into a deeper beauty
But for now just stay with me
God, for now just stay with me.

Audrey Assad, Show Me

I hope to start looking more closely at the markets the week after next, when the next round of hospital visits for various follow on treatments will be at an end.  There is almost one every day.

And I am very glad to start catching up on lesser concerns that had been put aside for too long, like some things around the house, the cars, and my teeth.  It takes an effort to do it, but when you do get them fixed it can feel very good.  lol.

But I certainly will try to pay close attention to the Brexit vote next week on Thursday. I will be surprised if it is not surrounded by the usual shenanigans, in the markets and then some.

There is a great deal of power and money at stake.  And the powerful are not shy about what they may be willing to do to hold on to what they believe to be their entitled positions and accustomed privileges.  Even if into the abyss.

Do not be afraid.  He does all things well.

Have a pleasant weekend.

SP 500 and NDX Futures Daily Charts - Fragility

All the world’s a stage,
And all the men and women merely players;
They have their exits and their entrances,
And one man in his time plays many parts...

William Shakespeare, As You Like It

Britain was not a member of the governance of continental European for many, many years.  Why is their membership in this body such an overwhelmingly important consideration now?

The issue is not Brexit itself so much, but the fragility of the system which is so threatened by it.

And at the heart of it all is the postwar financial hegemony, its Banks, and their retainers and enablers.

The passing of great houses, the rise and fall of those who would have power to write their lines in the pageant of history is often accompanied by change and uncertainty.  And at the very end, and perhaps too late, knowledge.

Winning...

Have a pleasant weekend.

Gold Daily and Silver Weekly Charts - The New Normal

"Maybe more of what is causing this rate to be low are factors that won't be rapidly disappearing but are part of the 'new normal.'"

Janet Yellen, 15 June 2016

Probably the smartest thing that the public can do, in the US and the UK at the least, is something that changes the basis of this 'new normal' that the professional plutocrats find to be so comfortable for themselves, if not for their broad constituencies.

Gold took off higher today and cracked up above the 1300 level.

And it had run quite far in a short period of time, and those who trade the precious metals like paper currencies were seeing some nice opportunities for a quick whipsaw, and they took it.

So in a fairly short period of time gold was smacked back down about $30 intraday as the algos did their thing, and the thin specs started taking profits and then dumping positions.

And unless you are a daytrader this does not matter much at all. It was not unusual for gold to get rejected at the 1300 level This has been the story for quite some time, as well as the old support and resistance at 1280.

Brexit is next week, and the Fed is chomping at the bit to give their masters at least 25 bp this year before the elections draw too close.

Let's see how gold digests this pullback against its recent gains, which have been quite impressive.

Have a pleasant evening.