Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA
NASDAQ
As with the other Indices, NASDAQ seems to be in the extension of the 5th wave from the 6620 bottom in a previous extended impulsive long-term wave. NASDAQ is breaking higher above ABC flat 12400 in the 4th wave. We are to go long against 12200 and will add on this retest.
GOLD
Gold continued higher in the 4th wave from a 1200 bottom. This final wave is coming to an end as it is extended and reaching a new all-time high in a five-way up. We have a pullback 5 wave beginning and will accelerate below the 1920 channel and triangle resistance. We had a break below 1920 which was on a retest. A break below 1870 is required for a 3rd downside wave which we have now and we are seeing a retest of the broken resistance 1870. We expect a failure here and a continuation downside.
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