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!
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.
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.
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...
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.
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.