The price action in metals on Friday was one for the record books. Silver plunged by more than 26% and was down over 30% intraday. Gold was not much better. The metal often described as a safe haven or store of value fell by roughly 9%.

The SPX has been unable to make much progress into higher price levels for a couple of months. It seems ready for a price consolidation, which means it is likely time to be a bit cautious towards stock prices in the longer-term.

Silver is down 30%. Gold is down 10%. Bitcoin has dropped nearly 20% in days. We are witnessing a historic "Domino Effect" of de-risking—and this video warns that the S&P 500 and Nasdaq are the next pillars to fall.