Elliott Wave technical analysis with trading signals •

Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA

NASDAQ

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 13000. We have a confirmation break below 13000 and we are expecting a downside extension in the third wave below 12000 after this pullback into resistance which we have now. Below 11400 expecting acceleration lower to 10000.

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 1820. A confirmed break below 1820 will tend to invalidate the upside count. We are waiting for the downside alternative count to trigger as the instrument is unable to extend above 1920. And we have it with a break below 1820 so the five waves downside count is on the way and is being confirmed and validated. We are in the third downside wave.

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