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Well I must say I think last weeks price action augers well for one last dip to new lows. The RSI has turned back down and a new low in the sp would most likey be accompanied by a higher low in the RSI setting up a nice bullish divergence. Last weeks candle on the weekly chart looks weak while the monthly chart still looks to have some downside before a reversal.

As for gold, I personally think a lower top will come in this week to start off a large correction. The initial drop in the gold price may be the catalyst for the drop to new lows but after that I don't think it will have much effect. After all, the sp of CHN has been dropping while the gold price is rising and even if you lop of a couple hundred dollars from the gold price CHN is still el cheapo.