NQ In Retreat & Silver Soars Again

GFBP Lowers Risk and Positions

Early equity trading was all bulled up as the EU put forth a massive $860Billion stimulus/recovery plan. However the Nasdaq had other ideas and after hitting our high on the nose (unprecedented, pat on the back) at 11058, that level slammed the bull door shut and the Nasdaq was in retreat mode for the better part of the day:

Tesla earnings are tomorrow and we aren’t sure what to make of them, everyone knows the market just continues to rise so we are sure the camp is evenly split, but the technical tone of that 11058 rejection is ominous and tilts are viewpoint downward unless we take that level out on a close.

Earnings out after the close today, United Airlines and well, what else did one expect (from Bloomberg):

• Q2 loss per share of $9.31 ($9.18 loss expected)

• Record quarterly loss of $2.6 billion

• Revenue falls by a record 87% to just $1.48 BN from $11.4BN a year ago

• Available seat miles 8.96 billion, estimate 9.14 billion

• Rev. passenger miles $2.97 billion, estimate $3.12 billion

• Passenge…