Chart eurGOLD   Chart eurSILVER  
 
Food for thought
Economics is haunted by more fallacies than any other study known to man
Henry Hazlitt  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1241.650.65
Silver 17.190.05
Platinum 1261.756.65
Palladium 768.753.45
WORLD MARKETS
DOWJONES 16461-154
NASDAQ 4383-37
NIKKEI 15196391
ASX 537361
CAC 40 410524
DAX 894053
HUI 185-6
XAU 76-3
CURRENCIES (€)
AUS $ 1.4424
CAN $ 1.4213
US $ 1.2646
GBP (£) 0.7882
Sw Fr 1.2062
YEN 135.5100
CURRENCIES ($)
AUS $ 1.1408
CAN $ 1.1240
Euro 0.7908
GBP (£) 0.6233
Sw Fr 0.9537
YEN 107.1610
RATIOS & INDEXES
Gold / Silver72.23
Gold / Oil15.22
Dowjones / Gold13.26
COMMODITIES
Copper 3.03-0.01
WTI Oil 81.58-0.38
Nat. Gas 3.69-0.02
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
SP 500 and NDX Futures Daily Charts - Pause, Consolidation, and Infamy
Published : October 23rd, 2014
333 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

"In the last days, perilous times shall come. For men shall be lovers of their own selves, covetous, boasters, traitors, heady, high-minded having a form of godliness, but denying the power thereof. Evil men and seducers shall wax worse and worse, deceiving and being deceived."

John Henry Newman

And high amongst those self deceptions is the arrogance to presume that the killing of innocents is somehow justified by the ends, as some form of recompense for other evils done, or as a public statement. This is not justice, nor reform; it is simply murder.

Stocks were shaky on the opens, and then the unprovoked shooting of a soldier keeping guard at the Canadian War Memorial. Oil also moved lower, making traders a little nervous about global growth prospects because of the slackening of demand.

But all in all, this was a very technical day. Stocks had an amazing bounce off support, with the help of the financiers at the Fed, both in terms of words and as some submit the likely purchasing of stock futures at key junctures of the day by the 'Plunge Protection Team.'

This purchasing of stocks in order to avoid a market dislocation has been a portion of US financial policy going back to the days of Reagan, but was made more prominent under the Treasury of Robert Rubin in the Clinton years. That it exists is not a matter of debate. It is titled 'The Exchange Stabilization Fund.'  Only their specific actions and motives are open to question.

So what next.

As I said, stocks retraced an amazing run higher to 'back kiss' support, which was prior resistance. It is their next two moves which will be most telling, and I suggest that you watch them closely factoring in the effects of any exogenous events to sift out the character of this market.

Will the recent efforts to inject money and 'confidence' in the markets take hold and become sustainable? Let's see what happens.

Have a pleasant evening.





 
Tweet
Rate :Average note :4.5 (20 votes)View Top rated
Previous article by
Jesse
All articles by
Jesse
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Jesse

Visit Jesse's Cafe Americain for refreshing news on the markets
Jesse ArchiveWebsite
Most recent articles by Jesse
10/23/2014
10/23/2014
10/22/2014
10/22/2014
10/22/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer