Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA by Igor Tereshchenkov
SPX500
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DJIA
Another argument for armageddon: the growth from the annual bottoms here is just a zigzag, on SPX you can mark up initials or even an impulse. Here the third wave is the shortest. This is down, in general. At first, at 24,000, and then it can go more even further…
NASDAQ
It ​​also began to decline at the end of the week. And now, it is probably correcting in the upward direction by the wave “2” or “B” of (4). The situation is complicated, it’s impossible to completely rule out the over-high. You can, in which case, put the wave (4) in place of “1”
WTI OIL
A week ago I wrote about the beginning of a downward correction (B) or (2), which partially took place. But there is a nuance: at the current moment, the depth (scale) does not correspond to the degree of this wave. This leads to the conclusion that either it is not yet (a gray option develops), or the waves [i]-[ii] take a not obvious form. In any case, above $43.5 (a thin red level) without updating the blue fibs area the market is prohibited to go in any options.
GOLD
I almost switched to the pink count from the update a week ago, today I even took a speculative long. The target by guidelines for this option is the pink diagonal [c], which is drawn on the end of the green wave (i) and the end of the pink (iii). This is approximately 1800. The level confirming the short is still deep below, it is marked with a green line.
Analysis by Igor Tereshchenkov @EightyNineWaves
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