The IWM appears to be completing wave [c] of B up in an ending diagonal triangle. Confirmation will come on a move below wave (iv). The continuing decline in the precious metals coincident with selling in stocks points to the likelihood that we have seen the top of wave B up in stocks. If this proves to be the case, the market should continue down in 3 waves until the end of the year.
As I have mentioned several times in the past, when the market closes at the high or low of the day on Thursdays, the tendency is for selling on Friday. If we close at the low of the day today, then the selling could be all the more severe tomorrow.