Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA by Igor Tereshchenkov
SPX
GOLD
The initials in the downward direction or the last fourth or fifth waves in the upward direction continue to form. I placed a large sell-stop on the breakdown of the orange level, therefore. Stop loss is near the annual high.
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OIL
Again, nothing new just removed the option of forming initials from consideration. The ending diagonal “5” is finishing its formation. Next week is likely to be a short one. I placed limit orders in the area between the end of the wave [iii] of “5” and the nearest red level. I plan to close the long there.
NASDAQ
The markup a week ago is working out perfectly so far. There is a possibility of a big fall. Potential waves (1)-(2) have formed.
DJIA
If these are initials in a downward direction, then now is the time for them to end. I have a small short open with a stop at the end of wave “2”. The odd thing is that I have a long on SPX at the same time. There will definitely be a stop somewhere, that’s understandable.
Analysis by Igor Tereshchenkov @EightyNineWaves
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