Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA by Igor Tereshchenkov
SPX
GOLD
Again almost unchanged for the week, I am waiting for the beginning of the collapse. And sentiment and structure and indicators – everything tells for that we are near an extreme point in gold. In this regard, I begin to perceive all corrections as potential initials down and take a short with a small stop.
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OIL
For a week there’s absolutely nothing new – all options continue to be considered, as before. The market goes by zigzags up and therefore does not give us clues. Let me remind you that in the near future I am waiting for a decline in the green fib area. Before this, we can break through the orange level, but it would be better not to break through the red levels.
NASDAQ
The previous markup did not work, so I reviewed the internal structure of the upward movement. Now I can not recommend a short – fifth wave on the indices are often stretched. For now, just watching.
DJIA
Nothing happened here what it would be worth writing about. Elliott Wave bias unchanged. Possibility of sideways range continuation.
Analysis by Igor Tereshchenkov @EightyNineWaves
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