Uptick Tuesday

A small rally on Day One of the March FOMC.

Tue, Mar 19, 2019 - 10:29am

The Comex metals are higher today as Chief Goon Powell kicks off his quarterly clambake. While this is nice, and certainly better than the alternative, it's just noise ahead of the market reaction that will follow tomorrow and Thursday.

But don't get me wrong. All upticks are welcome around these parts, whether they come before or after the FOMC. And prices are now above those key levels that we're watching, namely the 50-day in CDG and the 200-day in CDS. We're certainly not overbought by any measure, either, so let's just take these gains and hope they hold through the day....

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