Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA
NASDAQ
It is still in the 5th wave consolidation that can be finished only with a confirmed break below 13800. We have a break below 13800, and 5 waves upside is finished. Nasdaq is now in the third wave of the five waves down. This count is valid as long the NASDAQ is below 15700. We have a confirmation break below 13000 and an extension in the third wave below 12000.
GOLD
Gold invalidated the five waves’ impulsive decline and is in the extended 5th wave of the upside. We had 3rd wave finish at 2074 and a pullback in the 4th wave. Break above 1960 again is needed for a 5th wave extension. The instrument broke below 1900, making this irregular flat correction. Look higher as long it is above 1850. A confirmed break below 1850 will tend to invalidate the upside count.
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