Stocks and Precious Metals Charts - Slouching Towards Jackson Hole!

"When the economy was very obviously building towards the financial crisis of 2008, how many economists were ignoring the bubble conditions, preferring to keep their noses in their statistics, a willful condition that I call data blindness.

It is not safe to see too much, and even less safe for the career minded to speak out against the actions of powerful insiders who control the benefactions of position, and the perks of the privileged class.It is much more judicious to hide one's nose in a selective book of statistics, ignoring the reality, and relying instead on being data blind or ideologically blind to what is really happening.

It is easier to say 'I didn't know of this injustice' and afterwards, 'who could see such a thing approaching?'

And then let it happen all over again." - Jesse 21 August 2014

And so here we are.

Stocks managed to move higher, with the SP 500 reaching another new all-time high.

The tech-heavy NDX and the broader Russell 2000 continue to lag.

Gold and silver continued to rebound sharply from the painfully obvious price manipulation of last week.

The Dollar dropped quite a bit, back down to the mid 92 area.

The equity market is on shaky underpinnings.

Something is going to knock it over, probably by about 10%, or more, most likely in September, maybe October.

In the end, it could be something even relatively trivial in retrospect, as trigger events go.

A stiff market decline is no sure thing if never is.

But if current behavior holds, the probabilities will increasingly favor such an outcome.

The Fed symposium at Jackson Hole starts on August 26^th.

Chairman Powell speaks on the morning of the 27^th.