Stocks and Precious Metals Charts - Bonfire of the Banalities - Cloudy With a Change of Carnage

Jun 10, 2022 at 7:14 PM EDT

To say that the equity market action today was not constructive would be an understatement.

At best we can say that the major indices are going back down to test the prior low, the second low in our CrashTrak model.

Worst case, they are teetering on the abyss.

What was stunning about today for me was the sharp upward movement in gold, silver and The Dollar, all in one of the first coordinated flights to safety we have seen among those three in a very long time.

Needless to say, I am on the highest ground I can find for the weekend.

More inflation and economic data next week.

Stock index option expiration on Friday.

Have a pleasant weekend.

Disclaimer:

These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from learning by my mistakes, which are many. As a standing policy, I never provide individual investment advice to anyone. I will only occasionally disclose my personal positions for the purposes of illustration. Understand that my own circumstances could differ greatly from your own, and therefore what is suitable for me may not be suitable for you. My comments are intended to be reflections on general macro financial and economic events and trends.