Yesterday the markets suffered a min type of a crash. It is also a move I like to see coming off another major peak. Due to its sharp decline, there is still the potential left for the markets to charge higher. All of the January 2018 rally would have to get completely retraced just for openers, followed by retracing the entire December bull market as well. We have to get a decline big enough for the markets to no longer have the time to create a new 2018 record high.
So far we topped off at the 2808 price peak and remains the number to beat in the near term future.
The Gold/SP500 ratio is well into the extreme side, sitting a bit over 2:1 this morning.