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. A break below 14000 is required for a third downside wave acceleration which we have now and we are waiting for a confirmation break below 13000.
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 break below 1850 will have the tendency to invalidate the upside count.
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