Friday, July 18, 2014

3 Charts for Friday: Dow, Banks & Global Temps

Quote for the Day

"When nations, by mutual consent, decide to ignore the commandment 'Thou shall not kill', it is very difficult for the military leaders to restrict the killing to just the right people" -- Rear Admiral Daniel Gallery

Chart #1: Brutal week for the markets

This is strictly technical analysis, so take it for what it's worth. As the old saying goes, "every sunken ship has a chart." But Martin Pring offers more analysis on the Dow vs other indices that you can read here.

Chart #2: ... And Not a Single One Has Gone to Jail

This chart posted without additional comment because if you don't think the big banks being able to buy their way out of this is a problem, then nothing else will convince you.

Chart #3: And the Japanese Are In on the Vast Conspiracy, Too!

I know a very smart fellow who is convinced that the world's academics are all part of a vast conspiracy about climate change. No chart will convince him otherwise; it only shows that others are "in on it."

Precious Metals Update

Finally, do I have comment on gold today? After its big move yesterday?

I'm not going to go into much more depth than I did in my articles published earlier this week on gold and silver.

I will add this: To be sure, gold had already bounced over $1,300 yesterday before the downing of the Malaysian airliner sent the metals higher (and stocks lower). Such short-term jet fuel should be just that -- short-term. I believe there are longer-term forces at play, including changing investor sentiment, and a general feeling that the Fed is behind the curve on inflation.

But we'll see. Remember, there is more support at lower levels, and no reason that couldn't be tested as part of a short-term pullback, Malaysian airliners not withstanding.

And my consolations to anyone who lost someone on the plane. Why was it flying over a war zone, anyway? So many unanswered questions, and even if we get answers, what comfort will "answers" be to those left grieving?

Have a great weekend. Hug those dear to you, and keep them close. Remember, it can all change in a bloody instant.

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