Stocks and Precious Metals Charts - But If Not

Stocks sold off again today, dropping down to some key support levels.

They managed to bounce back a bit into the close.

Keep an eye on those support levels, because they may be pivotal between what is a 'normal' correction and another failed rally.

Gold finished unchanged and silver managed to bounce back into the green with stocks, but both were hit hard in the early trading in New York and London.

The Dollar edged a little higher.

The VIX rose with the morning declines but pulled back a little in the afternoon.

This is a dangerously volatile market, with a number of significant exogenous factors that could move stocks significantly.

I have taken down my index shorts and am not just sitting in cash.

I have pretty much stopped watching network television because the fog of war is flowing thick and heavy. Most shows and series are just not very interesting or entertaining or enlightening.

I remember the FCC commissioner in 1961 referred to network television as 'a vast wasteland.'

Now it is more like a noisome swamp, clouded with thick mists, populated by will o' the wisps and phantoms.

Have a pleasant evening.

(Click on image to enlarge)