Stocks and Precious Metals Charts - An Afternoon Boost from the Fed

"Price discovery is not a sexy function of markets, but it is critical to the efficient allocation of scarce capital and resources, and to the preservation of the long term wealth of investors and the economy as a whole.If price discovery is compromised by manipulation, then we will all be gradually impoverished and the economy will be imbalanced and unstable." - London Banker, Lies, Damn Lies, and Libor

Stocks were mostly unchanged, but with a slight risk on flavor after the release of the Fed minutes.

Big cap tech led the way up, with money coming out of the small caps in the Russell 2000.

Gold and silver ended mostly unchanged after a morning attempt to break up higher.

I think the chart is pretty clear what gold needs to do. And silver will follow.

Let's see if they can get the job done.

The Dollar chopped sideways.

And the band played on.

Have a pleasant evening.

(Click on image to enlarge)