Silver has found support just under $34. It traded below there for a quick New York minute last week (literally) but it has found support. It is being dragged on support, but I expect it to move higher shortly.
Gold has support just under $1500. I really expect gold to make a move north soon with all of the trouble finance is in. If there is any hope of a "recovery" it lies with higher oil prices. Oil will not trade for fiat any longer, and gold will take the reigns. It will happen soon.
The dollar looks dead in the water. Many trades may be shorting the dollar, and the Euro may look overbought, but the US needs a low dollar to maintain its debt payments, and as the Federal Reserve and US Treasurie run the economy, they will continue with this policy.
Equities continue to flash crash, or crash altogether, as volatility is really the driving force behind finance. NYX got dumped today, because the Germans will get what they want. It joins a long list of high profile stocks that have either missed on the margin, or missed on the rumor. Considering the fundamentals, the market is lucky there is anything to trade at all.
With the debt ceiling breached, and with a coming announcement that quantitative easing is the only out, the next leg of hyperinflation lays in wait. There is nothing stopping it, unless gold overnight moves to $12k (and its sisters two along with it). For if there is anything that can leverage the system further, it is gold.
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