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 downside support which we have now. Below 11400 expecting acceleration lower to 10000.
GOLD
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 4th wave pullback.
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