Big-cap tech flopped today. It is surprising that tech keeps leading the markets lower while the rest of the markets seem to be holding up in the form of the SP 500 (SPX) and Russell (IWM). This is the lull before the storm. I suspect that the powers that be are pouring oil, made of paper, on troubled waters, as it were, to continue the collection of their booty.
Gold and silver were slammed lower in observance of their August futures contract option expiration on the Comex. It is customary to give the new holders of positions a gut check.
Tomorrow is an FOMC rate decision.
VIX fell as the bulk of the market felt buoyed that Armageddon has been kicked like a can down the road.
The Dollar declined a bit.
Have a pleasant evening.
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