peaceable kingdom

market vibes

November 5 … ) 

The Peaceable Kingdom by Edward Hicks was painted ca 1831 representing a messianic prophecy in the book of Isaiah (11:6) “The wolf also shall dwell with the lamb, and the leopard shall lie down with the kid; and the calf and the young lion and the fatling together; and a little child shall lead them.”  

In the markets 

Copper is attempting to break away from the metals peloton on rising volume. So far open interest is reluctant to confirm but its implication is clearly higher. Why is copper going up? AI? The old wolf calling shortage? If the rally is real, a story will follow it.  

Technically silver is in support and quiet. There is a very subtle red bar in the DMI that could be important if prices extend the range lower today. OI is down again but flat. However, If Dec trades above $33.25 today the red bar will revert to blue intra-session. That would be positive development.  I will review it in “the wrap” after the close. 

In other markets 

Let’s move on to oil, bonds and stocks and my vibe which is a little longer than usual this morning.