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[dTraderB]

I am not predicting the sky will fall but sometime before November 1st markets will make a new yearly low.
$1300 gold and euro at 1.2 or lower before it's all over for this leg down


Two-Day Rally Built on Sand, Says Technical Analyst.

By Avi Salzman
“The Lows are not In!” screams a report just released by technical strategists at Auerbach Grayson, responding to the recent stock market mini-surge coming on the heels of the worst week in nearly three years.

“Our analysis continues to suggest that this “hope” fueled quarter end advance shall fail in spectacular fashion; just as the 8% rally into Labor Day and 7% rally into the 4th of July; have done before,” writes Richard Ross.

Indeed, the gains in the market still appear shaky, and were nearly erased as stocks fell sharply at the close of the trading day on Tuesday.

Ross sees the S&P 500 testing 1,072, with a possible downside as low as 1,008.

He also sees gold prices continuing to fall, calling the recent weakness “a speculative unwind of Epic Proportions.” He thinks that “gold can still be sold right here ahead of an even greater decline.”

http://blogs.barrons...st/?mod=BOLBlog