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SPX correction here

Commentaries & Views

S&P 500 did the compulsory little rebound yesterday – one I didn't trust from the get go, yet maxed it out for subscribers enjoying also the Intraday Signals. Stocks had been gradually deteriorating, and it became clear at the onset of European session that we're in for a risk-off day taking its toll on most economically sensitive real assets.

Today's analysis would be brief as everything is going all too well for the short stocks and other vulnerabilities highlighted Sunday regarding precious metals, and now commodities falling through immediate supports (copper $3.82 and oil back to the $80 mark) – I'll present more thoughts in the chart section and then conversing with you on Twitter..

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Let's move right into the charts (all courtesy of – today's full scale article contains 2 of them.

S&P 500 and Nasdaq Outlook

4,515 support would be broken to the downside today, and buy the dip reaction has poor odds of sticking especially if tech continues being pinned down and not rallying at least partially when

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.