Stocks and Precious Metals Charts - This Is the Credibility Trap

By Jesse of Jesse's Cafe Americain

Jan 11, 2022 at 5:19 PM EST

Gold and silver rallied again off the anticipated bottom for the Non-Farm Payrolls report. The VIX fell as the risk-on sentiment shoved away from the fears of risks.

Stocks managed to rally today thanks to the guile of Jay Powell, who played the dove to stimulate the speculative bubble, at least for the day

The dollar drifted lower.

Gold and silver rallied again off the anticipated bottom for the Non-Farm Payrolls report.

The VIX fell as the risk-on sentiment shoved away from the fears of risks.

This market is one exogenous event away from a meltdown.

A regional Fed President's comments today dismissing out of hand the question of ethics issues at the Fed were disturbingly disingenuous at best.

This is the credibility trap in which we find ourselves today.

Have a pleasant evening.

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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.

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