[…] Stocks were in rally mode today, the typical kind of narrow rally focused on the big name ‘story stocks.’
Gold and silver were sailing along, with silver in particular taking hold of the 20 handle and hanging on to it with a firm grip.
Both gold and silver have broken out. I have highlighted the objective on the charts.
This is a highly unstable, self-referential equity market.
It is not a question of ‘if’ but ‘when’ it melts down, and what sets it off.