Once again concerns were cast aside after a wobbly open, and stocks went into risk on mode and rallied higher once again.

The VIX has fallen to its recent lower bound.

Gold and silver were lower as the dollar edged higher.

There will be an option expiration for the precious metals on the Comex this Friday. It is more significant for the gold contracts than for silver, but both typically go hand in hand in this scenario.

I hear in many cases the sentiment that the recent decline in stocks is of little consequence, and that even if they were to decline much further than they did so in 2008, and will likely turn out all right in the end once again.

I have included the latest in the CrashTrak calculations. As you know the indices must exceed the second high in order to take this chart formation off the table.

Have a pleasant evening.

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