FYI...this the alternate for DXY which aligns in some ways better with the count for precious metals...
This could get ugly quickly...this is a moderate view...but we could easily push this down a few hundred pts deeper.
In my opinion (IMO) we need to see another move down in SPX....like this...then we will see...
One more push down for wave 2 imo, then a hard reversal which will send stocks and metals down
As you can see from the chart below, I think we have one more leg down before a significant retrace back up to the 4k area on SPX
Silver is close to a significant pivot pt in my opinion...booking profits and will await pull back for re-entry
In the near term, it looks like Silver may continue up a bit even after SPX pivots and pulls back...both ultimately should pull back vs the USD, but I see SPX falling faster and perhaps harder.
A closer view of a bearish count on gold...the fact that everyone is getting boolish makes me give this more credibility....the invalidation line is the last major...if that breaks then this count dies.
Ever the contrarian...and seeing how everyone is getting bullish on metals, I am sharing this idea. In some ways it does better fit the EW principles than the boolish counts that you are seeing published in many places
Oops...noticed an error in a prior chart that I posted on silver...still bearish near term...pivot should happen this week.
Inflation is close to topping imo...we should see TLT reverse in the next 2 weeks...the bottom could actually already be in...but expect a beach ball move on TLT soon. You can therefore anticipate what is about to happen to commodities, and other asset classes...stocks too the moon...new all time highs.
If I am correct...this is THE PIVOT! This is the early signal of the SPX dump and silver's moon shot...look at this ratio!
This one has pulled back to desperation levels in my opinion...we are at make or break for FSM! My bet is an explosive move up is here!
Feel quite confident that the silver rocket is about to truly lift off...we will be at $50+ very soon and likely to overshoot my tgt of $90 for wave III...
IF I am correct then all things priced in USD is about to explode...all commodities should run for sure. Here is my view on the DXY...a solid double top which will likely play out as a H&S formation that will move down hard! If I am wrong we will know very soon!
This one looks like a perfect buy to me! PB should be over and next explosive wave up should be starting...DXY appears to be topping...all perfect timing imo.
For those that want a closer in view of the silvah move...here is the 4hr count of the current wave structure.
The large move up in Silvah has started...get on board the rocket!!!