Stocks and Precious Metals Charts - Retracement

Stocks continued to fail to rally and continued the declines of September today.

They did bounce off the lows which is mildly constructive.

The way lower is being led by the bubblonians, the big cap techs.

They briefly tagged the 38.2% Fibonacci retracement, for the most recent leg of the bull run.

Let's see if they can maintain themselves here, or slip lower perhaps to test the next major support at 50%, around 13,970 or so.

Gold and silver had a continuation of their rally.

The dollar was broadly lower against most major currencies, giving up 94 on the DX index.

There will be a Non-Farm Payrolls report on Friday and it could move markets. Or not.

The debt ceiling razzle-dazzle is mostly political theater. Wow, what a surprise.

The Fed has utterly disgraced itself with this trading corruption and their response to it.

In addition to their disgraceful abuse of regulatory powers and monetary policy to further line the pockets of the one percent.

We are getting some much-needed rain today, although it seems to be making my old injured knee ache.

As my old godfather, a Third Order Franciscan used to say: Starość nie radość — loosely translated 'old age is no joke.'

Have a pleasant evening.

(Click on image to enlarge)