The Bulls Lose Their Grip on a Rally Again; At Least the Downside Action Was Negligible

The markets had a great start, but news out of Europe took the wind out of our sails.  The Vix held above the crucial 20 mark; firmly @ 22 for the close.

Gold has been flirting with bear market territory all day. The only thing good that was down today was oil. Perhaps the Facebook IPO will perk things up.

DOW down 32

NASDAQ down 19

S&P down 6

WTI down $1.35

Gold down $18

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