Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA
NASDAQ
As with the other Indices, NASDAQ seems to be in the extension of the 5th wave from the 6620 bottom in a previous extended impulsive long-term wave. NASDAQ is breaking higher above ABC flat 12400 in the 4th wave. We are to go long against 12200 and we could long on the retest. A confirmed break above 13120 will confirm the extension. As long as NASDAQ is above 12200 we are targeting 15000.
GOLD
Gold invalidated the 5 waves impulsive decline and is in the extended 5th wave of the upside. We had 3rd wave finish at the 2074 and a pullback in the 4th wave. Break above 1900 again is needed for a 5th wave extension. A break below 1700 will lead to an upside count invalidation.
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