Stocks dove to a new low today but managed to find some footing and bounce back in the afternoon.
Volatility remains pronounced, as shown by the elevated VIX.
Gold and silver fell as the dollar rocketed another 97 basis points higher on the DXY.
It is not clear if stocks have put in a bottom or not. This has the characteristics of asset liquidation at this point.
A bounce tomorrow would be constructive.
Watch out if they do not bounce though, for a 'blue' or gloomy Monday, followed by a black Tuesday capitulation if they still cannot bring themselves out of this slump.
Have a pleasant evening.
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