Ain't nothing gonna save you
From a love's that blind
Slip to the dark side
Across that line
--John Cafferty & the Beaver Brown Band
Could be wrong, of course, but am getting the feeling that equity markets could be on the verge of a major breakdown. Indexes are settling back down on near term support with little below until election rally lift off levels.
The banks in particular seem to be teetering on the cliff's edge.
Meanwhile, Treasuries have caught a bid and are doing work at intermediate term support. A breakdown in yields here would signify flight toward risk aversion.
And gold is chewing thru upside resistance in the 1250 area.
The stage seems set for some real fireworks.
position in gold