Real Problem is in Europe

North Korea is a smoke screen today for the real problem which is Europe.  The euro is gettting crushed today.  I am looking at traders flocking to gold as a safe haven and that seems like mindless trading to me.  To some extent, the geopolitical tensions have kept oil from falling apart.  But when things in Korea simmer down and Europe continues to get worse, you should see capitulation. 

Of course, these are bad case scenarios.  The market is about calculating probabilities.  The probability of a sustained rise in the market is much lower than the probability of a sustained pullback.