Hanging In There

Last month, a half point move higher in the POSX would have spelled pain and frustration for the Comex precious metals. However, today's half point move has not. A temporary reprieve? A sea change? Hard to say. I'm just glad we're not dealing with more massive red candles.

Maybe it's just the volatility of the POSX that has worn out the algos? I doubt it but it sure has been a volatile week for the index as it has gyrated back and forth over 50¢ for six of the last seven trading days....

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Key Economic Events Week of 5/20

5/20 9:00 ET Goon Waller
5/20 10:30 ET Goon Jefferson
5/21 9:00 ET Goon Waller again
5/21 11:45 ET Vice Goon Barr
5/22 10:00 ET Existing home sales
5/22 2:00 ET May FOMC minutes
5/23 8:30 ET Jobless claims
5/23 9:45 ET Flash PMIs for May
5/23 10:00 ET New home sales
5/23 3:00 ET Goon Bostic
5/24 8:30 ET Durable Goods
5/24 9:35 ET Goon Waller again
5/24 10:00 ET Umich final

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