mikemo81

mikemo81

Nice confluence of fib extensions/projections at $2,500.00 USD. Also terminates right at the upper band of the trend from 1980 and 2011 (not drawn) when viewed on a log scale. I believe gold is finishing up a symmetrical triangle from early Aug. '20, and before continuing it's parabolic move up. If so, get ready for some fireworks!

mikemo81

This scenario is currently my favorite. Seeing ABC flat starting from 10/2018 with C about to begin, which could likely take it to around 2015 levels. RSI Divergence screaming bearish.

mikemo81

A little higher to 2950-2960 where major resistance comes into play. This is the area to watch for a continued move down.

mikemo81

ABC from beginning of 2018 appears to be complete. Couldn't break massive resistance at $98, and now broke below support trend-line. First target, $85.

mikemo81

This is a real possibility. If the move up which started this week, makes a 3 wave move, then watch out below.

mikemo81

Still holding view the dollar MAY have topped...98 is right inside a fib cluster zone. Will it hold as resistance?

mikemo81

Price reversal needs to hold at these levels for a continued move up to resistance level of 1365 zone.

mikemo81

I ran fib projections and extensions from major trends going back over 100 years. The 3100 area is a place to watch for a MAJOR top in the markets.

mikemo81

Appears gold is starting a 5th wave move to 1370.

mikemo81

The sideways move from 01/18/19 may be a triangle, which would almost certainly be a 4th wave move from the up move that started in December. If so, I would expect SPX to see new all-time highs in the coming months.

mikemo81

This is my projected outlook for the major US indexes over the coming weeks. Being conservative on the down-side, the yellow box is a project target area.

mikemo81

DXY breaking down as expected. Short to intermediate term targets of 92 to low 80's.

mikemo81

Many things lining up against further upside for the US Dollar. Momentum decline, trend line support broken (for now), possible WXYZ correction complete, 61.8% Fib Retracement.

mikemo81

This is my favored view. Made very clear 5 wave move down from 12/03. The next move down could be HUGE.

mikemo81

It appears the bear market in rates may have bottomed, but I'm not seeing a continued move higher until after a retracement. Looks to me rates will once again decline, but not below the all time lows, before heading much higher over the coming years.

mikemo81

Trying to be objective is challenging, but this scenario seems likely. If markets don't crash soon, they may be at the beginning of another move higher to all time highs. The price structure on the move down from October may be a double zig-zag correction where the last move down (C) is ending above the end of the first move down (A). Possible price projection...

mikemo81

It's my opinion the bulls are about to get trapped. My favored view of this move up for months has been a complex corrective move. Looks to be a triple zig-zag in Elliott Wave terminology. Highly likely the dollar head lower very soon IMO.

mikemo81

This is fascinating...The progress from before the 20th century may have topped. Not wanting to be doom-and-gloom, but notice DJIA has reached the resistance line AND the VERY significant fibonacci ratio of 1.618. This is the golden ratio of phi. If this is correct, the decades which follow may be painful.