It just feels like it to me....that something is about to happen. Is it the end of this horrific decline or just another cruel pause before pummeling already battle weary investors. I think we'll know this week. 

I've said for a while that any news on mark to market accounting would be big. If suspended or modified in someway the markets will launch a rally that will devour any shorts in the vicinity. It will be something to behold. If, however, the news on this topic is that it will be business as usual, the running triangle may begin its journey towards price fulfillment...around 550 by my calculations. If that occurs, I'd go long right there.
 
Gold is still exhibiting weakness. We should know soon if that weakness is leading to a larger decline or not. Same with the XAU.

Also note that any further extreme weakness in stocks will begin to feed on other sectors than financial, although they'll still get their share of the beating. The reason is that they're just about bombed out so there's not much meat left on the bone for a decline to feast on. Watch anything that's held up relative to the market. If you want an aggressive short, that's your area.

So that's what I think about stocks tonight. If you have a position keep a tight stop in place just in case and get ready for some potential fireworks.