The January FOMC Begins

Well, here we go. The January FOMC meeting begins today and concludes tomorrow with Fedlines and a Powell presser. In between, the stonkmarket is back down today in pre-open trading and who knows where it goes from here.

One thing we do know to expect over the next two days is very little upside in Comex gold. Why? Recall the discussion last week about the nearly 10:1 ratio of Feb22 calls to puts under $1850. That's a very significant incentive for The Banks to keep price below $1850 and...here we are....