The hawkish Fed, economic troubles in Europe and the UK, and a fresh appreciation of risk triggered heavy selling in the equity and commodity markets. 

The VIX rose sharply as one might expect on a 'risk off' day.

A look at the stock index charts, especially the SP 500 futures, shows that we retested the prior second low intraday.

If we break further past that low and stick a close or two down that way, things could get interesting, quickly.

Gold and silver were hammered by a much stronger dollar, which shot to just shy of the 113 handle.

This is the highest that the DX index has been since the dot com bubble bust.

There will be a lot of Fed speakers gadding about next week, apparently, things to say.

Let's see if they say anything that soothes the nerves of investors, especially in light of the mess in the UK and the potential contagion effects.

Or not. 

It might matter which way the winds of insider trading are blowing, especially out of Washington and NY.

Have a pleasant weekend.

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