[vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]
Good evening all.
Despite a slight set back in GOLD prices over the last few days I am still bullish on the prospects.
And I expect to be adding to my position over the next few days.
The sheer magnitude of bearish sentiment,
the convergence of the extremes at opposite ends of the futures market,
along with the expectation of wave '3' higher all points one way for me.
I will be using Gold as a wealth preservation tool from here on out give what I expect to com in the stock market.
On that note, I am getting pretty interested in the pattern off the high in stocks right now.
This week could clear the way for a third wave down.
Lets see how the patterns are lining up in GOLD and the S&P500.
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
GOLD
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row][vc_row][vc_column width="2/3"][vc_custom_heading text="30 min" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][/vc_column][vc_column width="1/3"][vc_custom_heading text="4 Hours" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][vc_custom_heading text="Daily" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]
A five wave structure in wave 'c' of (ii),
has either completed at todays low or,
we will get one more drop into 1180 in wave '5' of 'c' as shown.
The price has now found support at 1181 three times over the last month.
So I expect that level should finally halt the decline in wave (ii).
When we see another break above 1200 again, it should be the final time as the larger wave (iii) begins.
Tomorrow;
Watch for wave '5' of 'c' of (ii) to complete at 1181.
Lets see if we get the bounce I expect.
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
S&P 500.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row][vc_row][vc_column width="2/3"][vc_custom_heading text="30 min" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][/vc_column][vc_column width="1/3"][vc_custom_heading text="4 Hours" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][vc_custom_heading text="Daily" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]
The S&P has completed a three wave pattern off Mondays lows.
If that is the case,
then we have a complete impulse wave off the high.
And a bearish Elliott wave signal in place.
It is time to be vigilant in the stock market, as this could get nasty quickly!
So far wave (ii) has held below 2900.
Now I want to see a further five wave decline in wave 'i' of (iii).
Wave 'i' should break 2863 again.
And once wave 'i' and 'ii' are complete that will level the market open for a sharp decline in wave 'iii' of (iii).
Tomorrow;
Watch for 2900 to hold again and further declines in wave 'i' of (iii).
[/vc_column_text][/vc_column][/vc_row]
[/_s2If]
[vc_row][vc_column][vc_column_text]
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row]