(1) GOLD ( USD ) Whether gold price will turn up from its July low (07/24) into a sustainable way depends on the strength of the dollar (at least partially), from the following charts & re-post, dollar may have reached the strong resistance, thus a good news for Gold bugs. Eric Hadik projects a much larger Gold advance in 2016.
DJI has dipped below the Lows of the Zone 1 and Zone 2, this is not bullish at all; Once again, the simple Fibonacci series can capture important points even though it provide multiple initial targets. the process is to set target zones and zooms in the corresponding Fib points. there is no gobbledygook wave counts into the hunting process. IMHO, when DJI dips below 17037.76, it is the confirmation we have seen the Top.
there is not much new materials, to avoid verbiage, here is a quick summary:
(1) ATH 2134.72 (projection 2130.46) (2) recent low 2044.02 (07/07/2015) accessed the “pivot zone” 2047.41-2069.93 (see chart) (3) Eric Hadik narrows his time window to middle September for a big down. (4) Close below the pivot zone (2047.41) may usher in for the scenario given in (3) (5) The retracement coordinate is 1560.33 (root) and 2134.72, 0.236/1999.16, 0.382/1915.30, 0.4045/1902.38. I mentioned 1905 couple times in Q4/2014. (6) Anthony Caldaro projects his wave P5 will bring the SPX to 2530-2630 by Q1/Q2. ( https://caldaro.wordpress.com/2015/08/08/weekend-update-512/ ); IMHO, the chance is slim. Tony is a technician, he flips side quickly too.
The following old chart gives you an overall picture.
I am not a registered investment adviser, what i said herein is for your entertainment.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
