S&P futures are getting schmoked at 11:38 pm PT, down almost 70 points, and approaching the 3200 critical support level.   The futures could bounce there, or before there, but we seriously doubt it holds.  The S&P will move into correction mode – down 10 percent – from its ATH at 3226.

The market is playing out just as Carol K. expected in her post a few weeks ago.

…we at GMM believe the U.S. stock market is extraordinarily overvalued. Coupled with the political event risk, we expect a sharp correction, similar to last March and the 2018 “nightmare before Christmas” downturn, which will allow me to get back into these positions much cheaper.  I am also putting a shopping list together.  – Carol K., October 15th

To paraphrase King Solomon, who wrote almost 3,000 years ago,