A.M. Look 2/14/25

The main feature this A.M. is that Silver finally broke out above the U.S. Election Day high. I’ll go veer the Silve /FX spreads just after 7 in the room.

Gold show a potential top with the Indices so far failing at closing resistance.

Copper is flirting with its ATH matrix # which is lining up with the Indices.

Do not lose sight of the Holiday on Monday.

NYSE will be closed but FX & Metals should be active because Fearless Leader loves to stir the pot and float ideas via social media.

I would expect two flows today.

The first into London’s close and the second late day where we’ll see who wants risk over a long
weekend.

Judd’s Room is closed Monday.

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