risk off....gold up, page-7

Watch the 50dma of Au going forward the next week. It has already had a crack at crossing under the 200dma back in Feb and rallied.
It is once again heading back toward the 200dma A failure to hold above(ie, cross below)this time would signal a major sell-off back to $1150-1200.

Markets as I have been saying for weeks are entering a major sell-off.
Europe is a lost cause. Italy has to roll-over over 340billion Euros of bonds before January and Spains debt to GDP, (REAL DEBT TO GDP), not some bogus figure they throw out there is over 130% and their bond 10yy's are now approaching crisis levels again.

Keep saying it, the markets are broken and NOT a true indication of economic reality.
God help the US markets if Apple rolls over given its weighting in the SPX.