"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole...

We now have a society in America, Europe and much of the world which is totally dominated by the two elements of sovereignty that are not included in the state structure: control of credit and banking, and the corporation...The only element of production they are concerned with is the one they can control: capital." 

Carroll Quigley

The Dollar was stronger again today. I have included a five-year chart as well as the intraday chart for context.

Gold and silver were lower. Gold needs to hold these levels to validate the potential 'W' bottom.

Stocks attempted to rally, but failed later in the day and settled back down to the 38.2% fibonacci retracement level. This was not bullish action.

Next week is a lighter one for economic news. There will be the Fed minutes. The bobbleheads are hoping for a rate cut.  

I suspect the economic conversation, and most likely the trade, will be dominated by trade relations, attempts at regime change in various places around the world, company earnings, and the usual distracting nonsense. The White House has been aggressively spinning things with an eye to the markets.

Have a pleasant weekend. 

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