Gold –

Like we anticipated last week gold did not rally on our 44 cycle low just gave us a small vibration. That suggests gold is still weak and likely trending lower. There is a 59 cycle top that starts to work on 11/10. Any rally that develops here should again be countertrend. The trend is down and we are mainly looking for sell signals. There are no immediate bottoming cycles ahead.

SP500 –

SPX is now in the window where the 59 death cycle from the momentum high runs. This cycle runs until 11/3. The 24 59 death cycle runs until 11/29. Our 1.593 extension in the DAX was breached which indicates that the odds of the major top here are diminishing. If this is still a major high we have to top within the time window for SPX. The DC signals will guide us.