Nasdaq drops lower--broad markets fail to rally

Remember FCX and MER as leading indicators? Both P&F charts are bearish but the sector P&F chart for Precious metals remains bullish. Will the giant sucking sound be the sell off of gold and silver stocks as investors scramble to raise cash?






I have sold most of my broad market positions except for SWN and a few other oil service stocks. One signal is troublesome for the $HUI --I rate this as "Neutral"--but no sell signal yet for precious metal stocks.

So far support has held for $INDU but overall point and figure charts are bearish except for precious metals and oil and oil service sectors.
Today's Gold/XAU Ratio is 4.72