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….
