E-Wave for the S&P 500 Index

[gdl]

Gold is now as one of those support/resistance lines.
1301. The geopolitical concerns are causing some temporary shifts in markets. Gold might be responding to this event, as stocks keep whipping back and forth near its highs.

The down trend is clearly still intact. I would not bet against a long trend like this unless we see decisive multi-day moves. Better to be late to the party than too early.