"Complex systems that have artificially suppressed volatility tend to become extremely fragile, while at the same time exhibiting no visible risks.In fact, they tend to be too calm and exhibit minimal variability as silent risks accumulate beneath the surface.Although the stated intention of political leaders and economic policymakers is to stabilize the system by inhibiting fluctuations, the result tends to be the opposite.These artificially constrained systems become prone to 'black swans' — that is, they become extremely vulnerable to large-scale events that lie far from the statistical norm and were largely unpredictable to a given set of observers. 

Such environments eventually experience massive blowups, catching everyone off-guard and undoing years of stability or, in some cases, ending up far worse than they were in their initial volatile state. Indeed, the longer it takes for the blowup to occur, the worse the resulting harm in both economic and political systems." - Nassim Taleb, The Black Swan of Cairo

Stocks moved a bit higher today ahead of the Federal Reserve meeting on Wednesday.

Tesla beat expectations after the bell, but the stock just moved sideways. 

Bitcoin is one of their corporate assets

The Dollar chopped sideways and failed to take back the 91 handle.

Gold and silver moved slightly higher.

There will be a precious metals option expiration on the Comex tomorrow.

It is not a significant contract month for gold.

JPM is going to be offering a 'bitcoin fund' for its wealthier clients.

Have a pleasant evening.

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