Stock Market Today: Red Flags You Should Know About; Gold consolidation calm so far

Gold remains resilient, but down from the $1780 highs. Nothing goes up every day. I expect the rally to resume is due course when the fan gets further hit in Europe.

Stock futures signal a little more strength. As I wrote yesterday, we were bound to see a reversal after the huge Thursday weakness. Perhaps today will be calm, but looking more closely under the hood, the market’s Dow closed over 100 points off the highs in a final 20 minute bout of selling. Be careful.

There is also concern about the VIX staying relatively high in the face of yesterday’s Wall street party. Again, be careful, watch out.

The details are in the video. While the click through rate on these videos is awful, you’re missing some important visual references that can’t be easily conveyed through writing. Yes a picture is worth a thousand words.
http://www.youtube.com/watch?v=PEtdBxUq1pE

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