US equities running into a wall?, page-189

This is starting to sound a hit monotonous, but share markets were again in the red, hey but get used to it, because it could be the same story for a while yet, with what I expect to be around a 20% correction. Some indices more than others & its the likes of the Russell 2000 I expect to feel the most pain. Mostly I have been talking about the main US indices as they were at record levels bar the NASDAQ which still hasn't recovered the levels of the Dotcom crash. However its the European markets that have been suffering the most particularly that of mainland Europe & even more precisely that of Portugal & Spain, however the DAX has also been hit hard. Europe is sick, very sick & there is a concern that it will become a generational thing as youth unemployment has been ridiculously high for years. On US markets I think its important to note that the S&P broke below the 100 DMA, a key technical level. Gold was initially sold, only to bounce as equities did the opposite & it now appears that gold has broken free & benefiting from the decline in equities, despite a strong USD. And there is no better example of this than what Aussie gold has done in the last 48 hours up A$35.