Good morning, folks. Precious metals had a good overnight session, with silver blasting yet again to lifetime highs. This honestly needs to take a serious breather, and I think we’re about to start.
Gold’s own highs were enjoyed last month, and if silver starts to weaken even somewhat, I think gold will fall swiftly (and palladium even quicker still).
In sharp contrast with this, crude oil has been slumping for many weeks now.
Not surprisingly, with recent buy-at-any-cost strength in equities, the VIX has been beaten badly down to Jeffrey Epstein levels. This will likewise end very soon.
Broadly speaking, I believe the top in tech stocks is still in formation, and when it’s complete in early 2026, it’s going to be massive.
In the midst of composing this morning post, this news hit:
Its effects were felt immediately, with the /ES and /NQ slicing into the red.
This echoes a wonderful tweet I was reading last night. You might want to give it a read as well, including the excellent replies:
