By John Galt
September 22, 2011 – 04:45 ET
As of this posting DJIA futures are -156:
I don’t want to say that’s ugly but….
The question becomes are we building for a Black Friday, Black Monday, or just a total wipeout for the remainder of the month.
Time will tell but the USD and Gold are signaling the warning signs of a major deflationary episode about to impact the world’s markets and despite the protestations of the Bubblevisions, a break below 1094 on the S&P 500 means all hell breaks loose and the markets re-enter a major bear phase with support just barely set to hold around 1004.
At least it will not be a dull day and don’t forget to watch one stock from 3 p.m. to 4 p.m. ET for a clue as to where the market will close: