123Tom's TA study group

[123tom]

A dull day in a dull week.
except for the market indexes which offered something to watch.
Nothing much for me to add.

gold flat,as it pauses after a bounce,will it climb higher? hard to tell just yet. I'm biased toward a few more steps higher ,Then the pullback. silver down a small step.as it hangs closer to the bottom zone. uninspired, while gold has bounced.
AVXL down a small step and back to unchanged.hanging at a critical support zone, AVXL around 2.45 area.
IPIX down a big step and looking half dead at the bottom. It Has Become the IPIX Oppossum.

PVG down as forecasted ,almost perfect along the track pattern I highlighted. target zone 8.00-7.90-7.80 area to bounce there. Too soon to say if it would pull back to retest 7.50/7.60 area. but 8 dollars looks easy to see. In the current cycle for PVG, I'm looking at trade targets to trim around 9.25 area and pullback targets to buy at 7.50 area, and nothing but watching around 8 dollars.

The market indexes made the pullback today. so the first bounce Wave 1/Wave A has finished, the wave 2/Wave B has pulled back now, and I'd be anticipating the next bounce to the highest resistance it can be taken,maybe S+P 2860 area/2850,as a Wave C (bearish) and a bullish Wave 3 would have higher targets around 2880/2900 area.

So now we got the first wave bounce and the second wave retrace.
set up now for next week to make a move.