Gold and Silver DOWN for the third days . May go UP or DOWN another 2 or 5 days . Crude Oil cannot stay above $100. US Dollar Index breaks MA(50) and trendline DOWN, MACD shows SELL Signal, may drop to new low :eek: , then Crude Oil could go UP to $104 :eek: .
INDU's and SPX's lower targets are surpassed , and the counts are not quite completed . The indices should go UP to the upper targets @ 13180 and 1390 .
AUD/USD correction was completed as expected . Wave 3]5)1.1 was followed by Wave 3]5)1.2-3]5)1.3:1-:2-:3 . There should be Wave 3]5)1.3:4-:5-3]5)1.5 which may end near 1.12 .
When the count does not go in line with the Market, we must re-count . If Wave 5]1)1.5 is a wave five failure , Wave 5]1)1 might have ended :eek: . Wave 5]1)2 can go DOWN to end of Wave 5]1)1.4 @ 12296 and 1296. To go to 13180 and 1390 targets the wave that just end should be Wave 5]1)1.5:1 and Wave 5]1)1.5:3 should extend .
Gold, Silver, Crude Oil, Brent, EUR/USD, USD/EUR change direction :eek: . There must be an interesting development .
Evening Star Candle Stick pattern was not followed through . Head and Shoulder pattern may be aborted too . We may be in Wave 2) of Wave 5] which is almost completed .
INDU's Flat Correction near MA(50) . SPX's and NASDAQ's Irregular Corrections Type II near MA(50)s . TRAN's Zigzag Correction near MA(200) . If the counts are correct, next Candle Stick in charts of VIX should show a Dark Cloud Cover, http://www.investopedia.com/terms/d/darkcloud.asp TRAN should show a Piercing, http://web.streetauthority.com/terms/p/piercingcandle.asp INDU, SPX and NASDAQ should show Harami patterns . http://www.stock-charts-made-easy.com/harami-candlestick.html If not, the counts are voided .
We have been looking in vain for Wave 5 during the last three intermediate waves , because wave five is treacherous, sometimes it extends, sometimes it fails, sometimes it doesn't show up at all :eek: . As it turns out, the last five intermediate waves are 3s. We may be in Wave 4]e)c which may end at measured move (mm) or fibonacci*mm or MA(200). Wave 5] may go to new High as a thrust equal to Wave 4]b) , unless the neckline of Head and Shoulder patterns are broken . Note: Yesterday morning's Piercing attempt failed . Today there may be Morning Star look-alike attempt . http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:candlestick_bullish_
Yesterday's Hammer attempt failed . Our Running Triangle may turn out to be a Running Ending Diagonal . Wave IV]c)IIC]5)5 might have ended and we are now in Wave IV]C)III :eek: . Mr.Market would like to wait on the Neckline Cliff for Mr.Hill to decide whether to jump or not .