The Four Horsemen of the Apocalypse were split on the Armageddon Trade today. Gold and the dollar diverged and were non-confirming, though stocks got hammered and took out some short-term technicals. Bonds rallied off lows to close essentially flat. Today smelled more like deflation, a global slowdown, troubles in Euroland, and risk reduction than a loss of confidence in the United States. Or it could all just be noise. Nobody knows. Stay vigilant.
(click here if charts are not observable)