21 July 2014

SP 500 and NDX Futures Daily Charts - Miles Gloriosus


There is little economic news this week. The new weekly economic calendar is below.

The drivers this week are therefore likely to be on earnings reports, and the geopolitical issues especially with regard to the Ukraine.

Our glorious financial warriors are riding high in the markets, which are otherwise very dull and quiet.

Remember, thou art a man. Memento mori.

Have a pleasant evening.




 

19 July 2014

Is the New BRICS Bank a Challenge To US Global Monetary Power?


"Brazil, Russia, India, China and South Africa have many allies in the G-20, the minister noted, naming Argentina, Mexico and Indonesia in particular. 'They speak in the common voice with BRICS in the G-20 on the reform of international financial system,' the diplomat said.

BRICS countries are going to jointly demand implementation of the International Monetary Fund (IMF) reform during the G-20 summit being hosted by Australia in November.  The agreements to reform IMF quotas were reached in 2010 but have been put on hold by leading Western countries ever since."


It is pretty much as I said it was with the evolving currency war and the struggle by the Anglo-American banking cartel to maintain the status quo in a changing world.

How it will turn out, no one can know for certain. But since money and power are involved it will probably become more dirty and desperate than one might otherwise expect.
 




Thom Hartmann: The Crash of 2016


This is a view of how we got here and where we are going that you are unlikely to hear from the mainstream media.






18 July 2014

Gold Daily and Silver Weekly Charts - Sleepwalking To a Wipeout


Word has it that Goldcorp is eyeing Newmont (at these price levels and reserves) with covetous eyes. Can't say I would blame them.

Markets shook off the scare of a new cold to medium warm war yesterday as conflicts took their toll on innocents in the Ukraine and in Gaza.

The beleaguered Espírito Santo International has declared bankruptcy.

The Anglo-American financial system's moral bankruptcy is already a generally recognized fait accompli, except by those caught up in the credibility trap.

Today was a stock market option expiry. The next expiration on the Comex will be for the August contracts on July 28.

This next song goes out to Bubbles, from the Moondog.  If you do right, everything will come out right. aaaaaahwoooooo...

Things might look bad, but there is still room to dance if the music is good.  We'll save a table for you.

Have a pleasant weekend.










 




SP 500 and NDX Futures Daily Charts - Nothing Can Stop the Market, Until it Does


"Government is, or ought to be instituted for the common benefit, protection, and security of the people, nation, or community; of all the various modes and forms of government, that is best which is capable of producing the greatest degree of happiness and safety, and is most effectually secured against the danger of maladministration."

George Mason

The markets bounced back today as the algos shook off yesterday's Ukraine and Gaza jitters, and the momentum players came back in.

Volatility fell on this options expiry.

Have a pleasant weekend.






17 July 2014

Gold Daily and Silver Weekly Charts - The Fog of Currency War


"Violence, less and less embarrassed by the limits imposed by centuries of lawfulness, is brazenly and victoriously striding across the whole world, unconcerned that its infertility has been demonstrated and proved many times in history. What is more, it is not simply crude power that triumphs abroad, but its exultant justification. The world is being inundated by the brazen conviction that power can do anything, and justice nothing."

Aleksandr Isayevich Solzhenitsyn

There was a flight to safety in the precious metals this morning on the news of a commercial airliner being downed near the border of the Ukraine and Russia, and that Israel has launched a ground invasion of Gaza.  Volatility spiked on wars and rumours of war.

Violence and disorder tends to trump the printing press. Truth is led down a blind alley and strangled.

Apparently the markets have not read the memo that there are no fundamentals for the precious metals.  I expect a bravado confidence to return to the markets soon enough.  Until the next 'big event.'  These fellows have no limits.

Well, Bubbles has had her say, and the fog of currency war descends again on the Pax Americana.

Have a pleasant evening.





SP 500 and NDX Futures Daily Charts - Skittish, Toombs, Skittish...


In this morning's commentary on The Recovery I ended with, "Time for more distractions. What time's the next 'big event'?"

About 45 minutes later I edited it out, as the news from Ukraine was breaking.

I do not wish to traffic in human tragedy.   And I remember the families and those who have suffered loss.

There is a bull market in chicken hawks.  It serves to distract and divert the jaded,  and besides, one must never waste a crisis.

May the odds be ever in your favour.

Have a pleasant evening.