This is how I see GOLD will finish off the down leg and arrive at a bottom.
2 CIT's - 12/23 and 8am CST and 12/29 3am CST for twin bottom as in the wave structure, which is a projection in TIME and PRICE. Use STOPS of your choice.
This is what I think about May 2015, and June 2015 close.
May 2015 - 2142-2167 $spx
June 2015 - 2220-2240 $spx
Today was a breakout day with a new ATH CLOSE shorter term, there may be some more continued drama into 5/21-23 but overall we should trend higher from here.
STOPS 2104/2091.56/2078 DAILY CLOSE with the last one being the related INTERMEDIATE DEGREE ...
- Some more sideways chop or final decline into 1/28-29 is pending
- Cycle studies combined with a new wave progression nested at 3 degrees suggests that the breakout will be to the upside
- 865 DAILY CLOSE can be best case downside target by the aforesaid CIT (change-in-trend time pivot zone). 865 only comes into light if a DAILY CLOSE (6pm CST USA) is below 965, ...