Modestly higher but structure not impressive.
11:48 pm NY time was the Winter Solstice, perhaps my favorite day of the year, when the sun begins its upward ascent from its nadir and the days get longer.
Admittedly, it doesn't feel as dramatic here on the Island of Enchantment because it's basically endless summer. But back in the Northeast it was always a very big deal to me.
It's easy to overlook the Winter Solstice amid all the Christmas diversions, but I think it's important to be aware of what the celestial bodies are doing, just like our ancestors were. It's also a very powerful time for meditation.
In the financial news, two things caught my eye today:
First, one would think that markets would be ripping on news that China is to provide yet more stimulus. But no.
Regarding the news from China, it seems to have scarcely caused a ripple . . .
. . . except in AUD, which seems to be the only market to have heard. AUD may want to test the .74 area, but still looks like it needs a lower low on the monthly chart.
JPY and CHF are stronger today. Be aware.
Nowheresville. At some point 2s-30s will likely head lower in price and higher in yield, just what the Fed doesn't want.
Speaking of what the Fed doesn't want, 3-month treasury yields are signaling trouble in Keynesian paradise.
WTI crude continues to suggest that its wedging toward a reversal. NG hard to say if it's doing the same, but it is still in near-term rally mode.
Gold, silver, and copper down. Looking at the action in Goldcorp (GG), it seems to have a buyer in it of late.
Regarding yesterday's Price Is Right game, leaning toward Door #3 (as long as it doesn't turn into a trap door).