Herd mentality?

gold correcting [profit taking, too high?, potential increased margin requirement coming, markets stabilizing? (I think not), testing support?]

Check out this one from money game:  Herd mentality has descended upon Wall Street, as S&P 500 stock correlation reaches its highest levels ever. This unseats former records set in 1987, when portfolio insurance strategies caused stocks to tumble in tandem. Analysts have learned to expect high correlation in bear markets, when investors rush to sell off equities. But Felix Salmon has noted that the rise of high-frequency trading and ETFs could mean that high correlation is just part of a larger trend. Either way, this spike in correlation is far from reassuring for markets.

I think that people are driving the market up for one last shot at profit taking.  We fell pretty hard, but there's no justification for a rally or run-up.  Who knows?