Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

SP 500 Futures - Gap Filled Intraday -

IMG Auteur
Published : May 17th, 2017
402 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Opinions and Analysis

"Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it."

Mark Twain

The gap in the SP 500 futures continuous chart that we left behind a few weeks ago has just been filled intraday.

As a reminder this is a stock option expiration week, although as I recall May is not a particularly significant month.

I imagine a lot of enthusiastic call buyers have just been smoked out of their seats and their June positions.

The tension on the tape the last few days was palpable.  It just took some small event to trigger it.  I don't think impeachment is on the table for President Trump, except in overheated Democratic rhetoric which has been engaging in speculative flights of fantasy ever since they took a big loss at the polls.

Although I would not rule anything out while The Donald has access to twitter.

The NDX has a quite a way to go to close its gap, but that is another matter. For my purposes the SP 500 futures are the bellwether.

I have pulled in my short positions, and just left some other risk off positions run, mostly in gold. No silver at this time for a trade.

My cynical side says that this is just a long overdue 'pause' in the Trump rally. But we will have to wait and see where it finds a footing, or if contagion of selling starts to trigger liquidations.

The 'big one' for the markets, if and when it comes, will gain the  most damaging momentum from the private debt loads which are once again back to record levels, along with the extreme leverage in financial derivatives exposure held by just a few financial institutions.

If any financial crisis spreads to the $222 trillion dollars in derivative exposure then it is time to hit the exits.   There is no way to bail that sort of malfeasance gracefully without imploding the currency,  'modern' theories about the ability to print money without limit notwithstanding.

Speaking of rotten fundamentals, the average growth in loans exceeds the average growth in hourly wages.  Thanks to Tony Sanders for that chart below.

Let's deregulate The Banks even more and hand out tax breaks to the one percent!  And spend all our time looking for Russians hiding in the shrubbery so we can blame them.

Sleep well.








Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Fed Balance Sheet Unwinding Expected “Relatively Soon”: Let the Deb...
00:42Doom
Also, the poor will be getting a huge shipment of free government cheese, fresh from the moon.
Guess What Happens In States Where Food Stamp Recipients Have To Work
25 JulJ.-2
@ Recusant, Your last sentence hints at the root problem - socialism has made (low wage) work illegal in this country. To provide a low p...
Supply Side Economics – 42 Years Later – Paul Craig Roberts
23 JulDoom-2
Lots and lots of things aren't in wikipedia, because they don't fit the Leftist narrative, and many entries have an extraordinarily biased presenta...
Meow
21 JulDoom0
>>For all his blunders and stumbles...<< To be fair, all presidents blunder and stumble like this. This is just the first in a long while ...
The Gold Industry is in a Deep State of Dysfunction, Delusion and D...
21 Julkevthorne1
Just hold on to it - you will win. A cautionary tale: I wish, back in the early 90's, when I took out a pension - it was "cast iron, copper...
The Gold Industry is in a Deep State of Dysfunction, Delusion and D...
20 JulDRGEORGE
Yep, hard to argue with any of that. But this poor, disillusioned, confused, swindled, isolated, powerless, 'smart'(HUH) precious metal owner has n...
This Feels Like the Action in 2008 Right Before the Collapse - Dave...
18 JulThe Recusant
Will we witness a battle-royale between the CBs and traders shortly?
Guess What Happens In States Where Food Stamp Recipients Have To Work
18 JulThe Recusant0
As a left-leaning independent, community service seems like a great idea as a prerequisite for food stamps for single childless recipients. But, as...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS