The primary factor driving the market down is FEAR. What we're seeing now is a panic as investors' fear takes over and they scramble to save what they have gained. Of course the only way to do this is by selling, so the prices drive ever lower.
Volume spiked bigtime in the last half hour--a sign of capitulation and an indication of a possible reversal.
Remember that for every seller there is a buyer. Guess where the smart money is today. Right...selling gold and buying the market.

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