Thanks for the warning. We are in a bear market and equities are facing selling pressure. No doubt about that. Investors are selling into any strength. Europe is a big worry right now. Italy will face strikes on Tuesday in response to austerity measures. Italy is heavily indebted and their economy is structurally very weak. They are also not on the periphery like Greece; Italy is a major Eurozone member.
Market is not looking good heading into the week on Tuesday. Equities will be facing considerable pressure tomorrow morning, especially the S & P 500 which is heavily weighted with financial stocks. Recession fears and Eurozone debt problems (Italy) are scaring investors away. Gold and 10 yr. treasuries (German and U.S.) are safe havens right now. I already reduced my exposure to equities.
Thursday or Friday could be rally days with Obama's stimulus speech.