The Non-Farm Payrolls report was a joke. The NDX set a new high, and the foundation for the next blew off top. The S&P 500 also moved higher, but is lagging the big cap tech.

Gold and silver were just hammered. They are clearing on the longs in the June futures contracts for gold and silver. JPM was just given a few million dollar fine (more like a tip than a wrist slap) for rigging the Mexican bond market. So, why not just go with the story of the miracle recovery, and pump stocks and hammer the metals?

This is a very effective way to transfer huge amounts of public money from the Fed to the one percent, and then sticking the public with the check; draining the swamp. Wait for it. The setup is here but perhaps not fully ripe. And then we will see things fall apart.