Hey Pic! I've got my antennae up now that the major stock market indices are showing warning signs of a breakdown in progress. Markets have been trading in a sideways consolidating pattern since hitting bottom in early August and that pattern may have resolved itself and returned the indices back to a bearish stance:

http://finviz.com/futures_charts.ashx?t=INDICES&p=d1

If the various markets repeat their behaviour of the July downturn, then we could expect the following during the month of September:

- A correction in the HUI down to 530 (back to it's dominant uptrend line)

- A gradual climb in the price of Gold & Silver (an acknowlgement of its safe haven status)

On a related note Jim Rickards posted an interesting piece today over at Eric King's website on the basis of increased volatility he expects to see in stock markets going forward. From my pov, until the indices regain some semblence of strength, a September correction must be given serious consideration at this point. In fact Jim Sinclair's standing prediction of a 4,000 point correction "in a matter of weeks" may still be unfolding. Also worth noting is his latest comments which are aligning perfectly with the EGM Gold model, predicting a sharp spike in the POG beginning in October. I'll be providing a more precise date range next week on when I expect rocket ignition.