Stocks and Precious Metals Charts - The Dog That Did Not Bark

Stocks came in with another overnight attempt at rallying higher.

And once again it faded away during the daylight trading, and stocks were lower.

The Dollar rallied back to 99 and the VIX was higher.

So it was clearly 'risk off' most likely about concerns with Ukraine, although there is some influence from the Fed meeting and likely 25 bp rate increase this week.

What was curious is that gold and silver both diverged significantly from their risk-off partner assets.

Maybe it was in sympathy with commodities in general, and maybe it was something else.

I did see the miners taking it on the chin especially, although there was a significant easing up on the downward pressure in the late afternoon.

Let's remember what all is occurring this week, including the FOMC meeting Wednesday and a stock option expiration on Friday.

Have a pleasant evening.

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