Larry here with a quick update. There’s another sea of red around the globe in the equity markets, with Asia and Europe down hard and the Dow Industrials now down over 210 points as I pen this issue.
Gold meanwhile, is up a very nice $22, clearly reacting to the losses in global equity markets, just as I had expected.
The dollar is down a tad, but merely pausing before another strong rally. Natural gas is holding its own.
Hold ALL open positions with their protective stops in place. I will be tightening those stops up either tomorrow, or Monday, at the latest.
If the Dow Industrials end the week tomorrow on a weak note, roughly below the 16,350 level (currently 16,050 as I pen this issue) then next week should see some wild downside follow through with a break of the August 24 low at 15,370.33 in the cards.
Stay tuned and best wishes,
Larry
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