It was a risk off day in the US markets, which were roiled by new prohibitions against Chinese investment in key technologies companies in the US. The concern here is the propensity for China to ‘borrow’ US intellectual property. And a valid concern it is.
Stocks dropped down to key support, and then bounced back weakly in the last half hour. These support levels reached today need to hold especially on a retest after a modest rally. If not, then we have some support at markedly lower levels.
The markets are favored in the sense that a market break or crash in June is not likely.
Gold and silver participated in no flight to safety. And tomorrow is an option expiration for the precious metals on the Comex. What a surprise.
Gold inventories showed a slight decline.
Need little want less and love more. For those who abide in love abide in God, and God in them.
