Charts at 12:30

from Jesse’s Café Américain

There will be a long holiday weekend in the US for Memorial Day, a day in which we remember all those who have served, and especially those who have given that ‘last full measure of devotion.’

Stocks are reaching for a high note, once again.

Gold has been smacked down for the June contract option expiration and the management of perception, and little else.

Silver had declined as well but seems to be holding the 16 handle.

The Fed is engaged in some fairly self-serving actions as always, in this case to raise rates so they can lower them again when their latest bubble collapses. There has been no sustainable recovery.

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