Just look at this chart – S&P daily. Talk about walking on ice and it is getting very thin. I suspect we will be looking at it pressing the first support around 5650 very soon.
As well, in all the years I have been following gold, I have never seen such a lack of participation by gold stocks. I know a broking house downgraded a couple of gold stocks overnight but on one screen I have gold up eleven dollars and on the next screen GDX, GDXJ PSLV and NUGT all weaker.
