SP 500 and NDX Futures Daily Charts - Tomorrow

“You are truly mine if you remain faithful to my words.  And you will know the truth, and the truth will set you free.”

John 8:31-32

Stock options expiration is tomorrow.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Stock Option Expiry Shenanigans

“I wonder why it is that the countries with the most nobles also have the most misery?”

Francis Bacon

Gold and silver bounced back a little today.

Stock option expiry on Friday.

Comex option expirations on the 26th.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Zzzzzzzzzz

Boring.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Stock Option Expiration - Risk On!

"Do not fear your enemies. The worst they can do is kill you. Do not fear friends. At worst, they may betray you.

Fear those who do not care; they neither kill nor betray, but betrayal and murder exist because of their silent consent."

Bruno Jasienski

Did I mention this is the week of the July stock option expiration?

And there are a lot of precious metal mining stocks with very fat gains, and a lot of leveraged bullish bets that are aching to be tested by the market bed bugs, aka the parasitic algos and 'market makers.'

Today the wiseguys were feeling fearless, and were tossing their hot money back into the risk trades, mostly to squeeze the other guys who had sought safer, calmer waters from bonds to precious metals.

Let's see how things progress.   So far this is a normal retracement in the precious metals from a short term overbought condition.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Beta Monkeys

We saw some continuing movement into assets that had gotten clobbered with the risk aversion sparked by Brexit.

This is an option expiration week in stocks.

Earnings and other economic will continue to influence the market action, but on the lower volume days the 'technical action' takes the whip hand easily, and tends to look for opportunistic plays to be gained in shoving prices around.

Words like 'whistling past the graveyard' comes to mind.   But that is what bubbles are made of.

However, once this technical trade has been passed, and the shorts have been squeezed, I see the market falling into a 'chop' that will not resolve until something exogenous provokes a move.  And that move could be significant.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Stock Option Expiration This Friday

"You have to drill through mud and water to get oil; you have to sift through sand and silt to get gold; you have to chop and hack through stone to get diamonds. So why do so many people feel that the treasure of ideas should come to them with little or no effort?"

Sydney J. Harris

Since the mining stocks are some of the premier gainers for the Year-To-Date, I would expect them to be presenting some fat targets for shenanigans this week for the stock option expiration.

There will be the August metals contract option expiration on July 26th.

Gold was off a bit today, while silver held its gains.

Gold is treading water above support while it waits for silver to catch up a bit it seems

Have a pleasant evening.