This is what they call the 'dog days' of summer market trading.

Even the spokesmodel's pom-poms were dropping today along with volumes, although they did manage a 'new highs' exclamation after the close.

And yes, stocks were marginally higher on light volumes.

Gold and silver were pretty much unchanged as the Dollar and Bonds moved a tad higher.

What is the old saying of Jesse Livermore? 'Never short a dull market.'

Citibank turned in lackluster results today, with profits based largely on one-timers and cost-cutting. The banking sector was a drag all day, although Citi managed to gain some ground finally. Go figure.

Gold continues to wind within a symmetrical triangle. Stocks continue to drift higher on lazy algo pumping.

I have included two charts immediately below that suggest that a global recession is on the horizon. 

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