There is nothing really new to add today. The Russell 2000 index has gone from Watch to Warning on our Flash Crash indicator, all the other indexes remain in warning stage. The S&P is inching up to that 1416 swing objective that we mentioned earlier this week. We may tidy up our short stock positions a bit, bringing them up to 100 percent of equity, as we approach the 1416 level.
The Gold / Stock Market relationships have all broken down this week and in my opinion it is just a matter of waiting a few months for the 1290 level to be realized.