Gold is higher this morning and everything else is down. Maybe the markets test 800 or shoot below 800 and rebound or maybe they close lower and become exteremely oversold for a good rally next week.
The volume on such a decline should be low or extremely high which would mean capitulation. if the put/call zooms up and stays there it would be great.
I sold GLD at the wrong time it seems, but Gold should day high and not give up its gains.
Lets see what happens as the day progresses. usually when we are this oversold and the markets get a very low opening , we bounce very strong. Lets see if we can do that. The tendency this year has been a low open and relatively stronger close.
Its gonna be a busy Friday folks.
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