It seems to be a good time to follow-up on the sequential tops theme rather than concentrate on short-term noise which is anyway just a part of the larger scheme of things and any political outcome will get interpreted according to the stock market outcome.
Just one comment: no fools in sight yet- see my old post Everybody knows-consensus.
Time has validated my contention that airlines cyclical bull has topped in November of 2010 and the sector is already in a cyclical bear, now accelerating.
I lost my gold chart so it is a recreated one. If you look closely, we may be at a beginning of a sweet 6-months rally to the top for gold and the miners.
Now a close-up of the last oil top.
If history rhymes enough we may have some rally till September followed by trading range till January where a final blow-off would commence. If the blow-off repeats its past performance it would take us to 200 bucks per barrel.
Now the disclaimer: things are not likely to repeat exactly same way.