Though the Comex PMs appear to be bottoming and turning, today is just another day in the same old, summer pattern. Prices rally overnight in Asia and London but then a little POSX strength in NY leads the HFT algos to dump and short Comex futures. This has been the pattern all month and it continues today.
Let's just get right to it. The POSX has been consistently rallying since about 3:00 am CT and is now about 60¢ off its lows....
