I wouldn’t be surprised if the stock market sells off and ends in, or close to being, in the red by the close. The plunge protection team will probably step in to prevent that, but if it does happen, next week could see the crash, I have been looking for.

As far as the metals, the question is, was this morning’s massacare the anticipation of such a stock selloff, or the beginning of more downside to come? I believe this is the inflection point where the metals now take in much of the capital that is flowing out of general equities. Whether that shows up this afternoon with a stock selloff, or waits until next week after continuing volatility today, hasn’t as yet been revealed.