SPDR S&P 500 (SPY)

[livinginthelimelight]

We could begin to decouple from China and start showing problems of our own. I do think we have a bounce in here in the next day or 2 and with Opex on Friday they can sure get SPY moving higher quickly regardless of negative news

Earnings season is about to kick off. Should we make a move back in the 195-200 price point the next week/week and a half, I think the end of January will show that it's time to run for the hills and we go for new lows in the 170's. After that, I think there will be violent swings daily in the market up and down.

Remember, I said that we were entering a phase of significant volatility a few months ago (not looking for the post, but Imi can vouch for it since we've had conversations about it). This should be a traders market through the fall.

One thing I am concerned about is commodity defaults. I think a wave of them can be coming, but also if the middle east sees this weakness, and if the US goes into a recession, they could start running the price of oil through the roof to hurt the US consumer. Kind of an economic warfare from our "friends" in Saudi Arabia.

Lastly, where will be the safe haven???? I am skeptical that it will be gold. I really want it to be, but it just seems like a crowded market. Maybe silver? I'll call the Lone Ranger and ask...