Ewj: elliott wave

The Brent's upward breakout may be a false break :eek: .
Gold and Crude Oil make lower lows.
Note: Head and Shoulder pattern in Gold and Big "M" in Crude Oil Charts.
Mr.Market likes to fool people around .

 

USD UP, everything else DOWN :eek: .
Gold DOWN move looks impulsive .
After rebound to $1500 may go DOWN another 5-waves to $1487 .

 

Gold's fifth subwave of fifth wave @ measured move = $1487.49 .
Should rebound from here ?

 

USD continues UPWARD movement .
Commodities may continue DOWNWARD movement to targets in the quote .
Money shifts from commodities and treasury into equities .
Note: Bigger Head and Shoulders pattern in Gold and Silver.
Bigger "Big M" in Crude Oil and Brent.

 

Gold's measured move target = $1444 .
Silver's measured move target = $31.7 .

 

Wave V]V)I5] Market Top targets in February 2012
20110701 INDU SPX COMPQ TRAN UTIL
V]V)I2] 9614.32 1010.91 2061.14 3872.64 346.95 346.95
V]V)I3] 12391.29 1344.07 2840.51 5306.65 441.86 422.43
V]V)I4] 11862.53 1258.07 2599.86 5043.21 419.69 419.69
V]V)I5] 14639.5 1591.23 3379.23 6477.22 514.6 495.17
Wave V]V)I3] < V]V)I1] so Wave V]V)I5 not > V]V)I3] .
TRAN may be the first to break May 2's high .
TRAN's Weekly MACD may give BUY Signal in a few weeks .

 

Crude Oil's & Brent's charts show Head and Shoulders patterns.
Crude Oil's measured move target = $83, sHs target = $80 .
Brent' measured move target = $95, sHs target = $91 .

 

weekly

is it an abc up .... or beginning wave 3 of 5 waves up ?

 

Commodity targets:
Gold = $1460.
Silver = $31.7.
Crude Oil = $85.5.
$USD = 73.5 or 77.5.

 

The stock market had an amazing 5-day rally. Maybe we can call it July 4 rally