the village venus
market vibes
February 23…)
In the news
The earth still turns absent Atlas to support it this morning. Reports from the Middle East are hawkish. The cartels are having a nasty tantrum in Mexico, the largest silver producer in the world.
Trump survived a third attempted assassination in the wee hours of February 22 at Mar-a-Lago. At this point killing the president is getting to be like “shots on goal” in ice hockey.
In lesser news, Trump hiked tariffs 15% globally after SCOTUS said he can’t hike tariffs. The strategic minerals initiative is rising as the AI debt spiral and Epstein is fading. Florida real estate is probably a big part of the plunge pending home sales. Ironic that Miami is the New Wall Street.
in the markets
Gold making new highs for the month and breaking out of a rising wedge on very light volume. Open interest is accelerating up from extremely low levels.
The technical thesis in rising wedges is: new buyers are becoming more and more aggressive competing for offers. Rising open interest implies new sellers are filling both longs and short covering. Sellers consistently entering the market since early February at $5130.00 have been exhausted and a new auction is beginning inside the January 30 sell void to wit, very low volume. My 45-bar slow stochastic is turning up from neutral territory.
This is entirely new buying and new selling with a mix of very light short covering. As open interest goes higher it is easy to see who is winning and who is losing and the rally may prove to be a probe not a launch. If you are a buyer taking this long, closing prices below $5130.00 would be negative.
Silver has a similar look but far more subdued.
