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Big Selloff A Possible Technical Top

|Includes:SPDR Gold Trust ETF (GLD), USO, UUP

A big down day on higher volume...deteriorating breadth of late...First negative economic news in a while with China downgrading their growth forecast and negative PMI for the month. Looking more and more like we're setting up for a negative surprise for equities and a potentially big ramp for the USD. Possibly a tough time for commodities although oil acts relatively strong due to Iran and gold holds up on the reintroduction of the QE3 idea.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: GLD, USO, UUP