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Here we are again. Equity futures up a fraction of a percent, just like always. Gee, it looked the market was actually getting interesting there for a little while, but the VIX tells the tale: it’s a dull grindfest, with no fear to be seen.
Allow me to introduce you to a ticker symbol you may not know. In fact, let’s have ol’ dimwit himself do the introducing. Take it away, Eric!
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.
Well, it’s not exactly a thrilling morning. As is so often the case, equity futures are up fractionally, and one glance at the /NQ over the past five trading days shows that the /NQ has meandered pointlessly, trying to find some reason to trend either up or down and finding nothing.
There have been a few times over the past couple of months where I’ve written some variant of “the market pretty much HAS to fall at this point for the plan to stick together“, and each time, it has done so. I hope it’s no different than this time because, well – – the market pretty much HAS to start falling next week for things to stay clean. All the major index charts below are the same in the respect that important resistance is represented by the red dashed horizontal line. Click on any chart for a bigger version.
