a month ago, I warned Fully that a Nov selloff looked to be on deck, for equities and gold … and gold could move sooner.

Trigger explains the risks here.
Personally, I think bucky is nearing a top and this selloff will be short lived.
Bucky then tumbles and reignites Risk On into a Meltup phase.
But by 26Q1 maybe Q2, bucky will bottom, and reverse north WITH A VENGEANCE and take no prisoners. TWT.
I follow my charts first, but EW helps frame the possibilities (by surveying “the room”) and for making contingency plans.

https://x.com/TriggerTrades/status/1985896698317623767

SPX maintains a clear 5-wave advance from the 2020 low and has over-shot the 1/3 trendline — a common signature for terminal 5th waves.

Price has now reached the 61.8% log-scale extension of the 3rd-wave rally (Oct 2022–Feb 2025) at 6,858 — a zone that frequently terminates 5th waves when Wave 1 is the extended leg.

While additional upside toward ~7,200 remains possible, a decisive break below the multi-year upper trendline — currently aligning with 6,500–6,550 — would be the first confirmation of a major reversal, shifting the broader trend bias lower.

The next phase is expected to be higher-degree Wave 4 correction, targeting roughly a 20–25% peak-to-trough correction (? 5,500–5,110) — equivalent to the 30–38.2% retracements of the 3rd wave (2020–2025).