Loading ...I guess it would explain the weakness in the overnights since we hit $3500. Oddly enough, it also appears that there’s some folks on Crimex that have been willing to step in and buy to slow the descent. You’d think their M.O. would be to press the selling and create a massive waterfall, but we haven’t seen that yet.
Silver just goes along for the ride because its tendency is always down.
Oil getting spanked again down to $57. SM rallying nicely. Dollar up a little with rates flat. Bitcoin up 1% PM’s the big losers at the moment now challenging the $32’s.
It’s a nice setup for the Fed going into next week when they will likely cut, IMHO. We’ll see about that though.
China liquidated a near-record 1mn oz across SHFE and SGE, reversing the entire April 22 blow-off top.