Although my long term market outlook still hasn't changed, the near term is looking not that bad.
I wouldn't be surprised at all of the market will bounce between SPX 1,000 and 1250 for 6+ months.
And I wouldn't be surprised if the market went much lower. I would be surprised to see the S&P500 reach 1,300.
I am back into gold/gold miners for over a week or so now, and I hope to stay put.
One of the drama's that is playing out recently is the US dollar, without any fanfare.
the US dollar broke a long standing trend line the last week, and no one seems to care. Although things are not dire yet, if the dollar breaks below the horizontal blue line in the chart below, I'm concerned.
The powers that be may have kicked the can hard enough into 2012 at this point.
Nothing will end well, it just remains to be seen how long it takes to get there. :)