Stocks And Precious Metal Charts - FOMC Minutes Fairly Benign

The FOMC minutes were fairly benign today, and although not particularly dovish, they had little impact on stocks.

US stock indices were in melt up slowly mode today but on wispish volume.

A good stiff breeze is going to blow this market over. At least in the short term, and for what will most likely be a decent retracement of this rally off the end of year lows.

But if not, if the wiseguys keep pressing their advantage, then when the trigger event comes we might get a much larger decline, something attention-getting like we saw in December, and then some.

Earnings started today with a weak manufacturing showing, but they begin to get more serious with the Banks that report on Friday.

Gold continued inching higher towards resistance, with silver continuing to tag along.

Have a pleasant evening.

(Click on image to enlarge)