Here's an update on Gold EW setup - the violent flash-crash that we've seen earlier today is still part of the structure of wave 3 of an that is developing, so a bounce is expected after we complete the last wave of the down impulse (if it's not completed yet). Based on the behavior of the correlated instruments I think we need to see another low (or a higher low) in gold in the next few days before a bounce occurs. The reversal should correlated with the start of SPX sell-off, last lower low in EUR and Crude. This is supposed to take a few days, may be even till the end of the month.
I think we will be at wave 5 and C by Dec 2015 the latest. Any thought on timing since we just started wave 1 of 5 down. Anything you want to update to this chart or anything new?
I think this chart is the one that's valid. We have recently started A down of w5 of the ending diagonal. I expect this wave to unfold rather quickly, till mid.Dec, and then the FED will announce more QE, and the stocks, together with the currencies will start a major uptrend, so as Gold and Silver.