It is hard to imagine that SPX could decline another 350 points, give or take, from here in only 2.3 days. However, it has done so before. In order for a Flash crash to work, it needs an element of surprise. I have no idea what the catalyst might be. But once it begins, gravity may take over rather quickly.

SPX is on a triple sell signal until further notice.

Crude is still in the limelight, having declined 4.44% today alone. That’s not all. In the after-hours it has declined even more, hitting a low (so far) at 45.66. There were a few scoffers when I put my final target on the chart for crude. Sorry, but it could be more…

Gold hit a high of 1236.00 today. The rally may be over since tomorrow is a Primary Cycle turn (Pivot) day. The alternate view is that gold hit its Wave (2) high at 1239.00 and today’s peak may be Minor Wave 2.

Either way, it appears that gold will join the ranks of the deflated very quickly.

Regards,

Tony

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