Loading ...Update on “Confusion Reigns”
DX: probably in long running triangle wave 4 …. up leg underway for D …. E down to follow ending 4; then 5 up
SPX: in mild corrective iv to rally leg D of large triangle IV …. E down to follow, ending the triangle. Rally to new highs follows. (Could also be IV done, now 1 up, 2 down of large V up)
Gold: YES, still in C leg of large corrective A down. Probably a complex 4th wave up within the C. I’m expecting a major top when 4 ends. It will likely be messy.
In line with DX, I expect gold to sag further, then recover to retest the highs, but fail. DX 5 up will send it below 1000.
Pedro, do you have any prices to attach to your analysis? would like to see how it is lining up with my charts. Thank you.
Sorry, Randy, no. My system doesn’t produce targets. Its focused on identifying key turns and their degree.
I then map those onto EW charts that others do, when they line up with my work.
I focus on buy signals, and let trailing stops take me out so I never concern myself with targets.
Understood, thanks.
Where do you see oil and natgas? Thanks Pedro!
I have both very near corrective tops. Wave 4 type tops. Should see them in next several weeks.
Whether W5’s down turn out to mark major bottoms? … possible but too soon to say.
Thanks, Pedro.