Tuesday was Day 11 and now today is Day 12. That’s 12 consecutive up days and green candles for the POSX to start the second half of the year. Yes, you read that right…since the month of July began, the POSX has painted a green candle each and every day!
And so, as you would imagine, this makes for a rather challenging environment for the Comex PMs. Oh sure, they can trade up overnight while physical trading takes place in Shanghai and London, but once the action turns to the Bank and HFT dominated Comex, digital selling overwhelms the bid and down we go. We’ve tracked this…