evening wrap, september 23

market vibes

“I’m not embarassed to be a banker.” Jamie Dimon

Trading in NY was essentially 3 markets on Tueday. Gold and silver were sharply higher but mellowed through the session and US stocks pouted for a day because Powell didn’t wax dovish at a speech in Rhode Island.

Trump’s trip to UN was greeted with a collection of frat pranks. However, he thrived on them with criticisms of the institution in which he spoke and candid insults for most of the audience, especially Europe. Then he left.

In the markets

Most of the long entries in gold today were either on the breakout in the early morning or on responsive buying below $3800.00.

(December gold 5 min data)

After the pit close the seller came back again, geting out of some lenght I think, in front of asia. There is no FX sensitive data expected in the US tomorrow.

(Dec gold hourly data)

Unfolding this evening, an informative technical look at what didn’t happen in stocks and bitcoin today and what did happen in other precious metals and oil, plus a bit of n'importe quoi (French for nothing and anything) in the vibe.