Watch Gold

What is the market saying now?

For me, the basic headlines, that it is an interest rate based decline can be accepted.  With that said, watch the level of 2712 on the S&P, unless the market closes below that level, trading bounces upward can occur.

But, watch Gold, if it takes out recent highs and closes above 1366, it will be a sign that the market is taking on the other issues, other than interest rates, meaning stocks will head below 2712 and enter an area of real danger.

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