Stocks and Precious Metals Charts - Dead Reckoning

Stocks were hammered down again today, going out near the lows.

Reckless capital meets mispriced risk and is consumed.

This is not constructive for bully.

Stocks are falling hard, without a noticeable exogenous event.   

Smells like a taper tantrum.

The major indices are at some 'must hold' levels if this is to be a correction and not a rout. 

As the old saying goes, 'as goes January, so goes the year'.

Gold and silver gave up some gains in the selloff but managed to hold some impressive advances for the week, especially in the case of silver.

The dollar drifted lower.

VIX rocketed higher.

FOMC next week.   

Have a pleasant weekend.

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