Mar 21, 2026
Update
The November low has been reached as expected, this happens at week 17(average for the 20w cycle is 16-18) the previous two were 16 weeks long, there is possible completed pattern, market breadth is oversold but no divergences - possible bottom but not important one.
SPXEW/DJ/NYSE are showing some sort of impulse lower too...there is room for interpretation and say this is the third wave with 4 and 5 to follow. In this case the third wave is extended so the fifth wave will make just sligthly lower low and will not take much time.
This is the situation - it fits with my expectations for 20w low and bounce higher in April. If this is not the 20w low expect it in the first week of April.
I see corrective mess - flat-Xwave-double zig-zag. Alternate this is shomehow ugly impulse with two more shallow waves for 20w low.
From pure technical analysis point of view it looks like H&S - next is the right shoulder and target for the pattern around 6000
And where do you see the bottom for gold in the near future? Thanks!
ReplyDeleteSomething around 4300 - there is support and possible target to complete impulse lower, after a fourth wave can be measured more accurate target.
Deleteif qqq daily is abc your alternate count makes sense. qqq is not at target yet for an abc
ReplyDeleteNDX looks different maybe this - https://invst.ly/1g9lfn
Deletethank you, makes sense
DeleteHow do you see the movement of gold in the near future? Is there still a lot of downward movement?
ReplyDeleteSee the first comments
DeleteIs it possible last Friday 20d low and this week going to 5w high?
ReplyDeleteYes, it is possible.
Deletelooks like a crash is about to happen
ReplyDeleteI do not think so
DeleteIt feels like price is approaching a 18 month low. What do you think?
DeleteNo this will occur later this year.
Delete