SPX - Short term outlook
Yesterday bad trading day.
My preferred scenario shows signs of cracking: the down move on Friday could be an impulse wave not yet complete, the confirmation is another decline on Monday.
In this case also my first alternative scenario (a doulble three wxyxz) could be wrong and could start a market collapse that requires a new count.
The situation is dangerous, so carefully.
SPX hourly chart
SPX 10 m chart
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GOLD - Intermediate outlook
GOLD - Intermediate outlook
Correction continues.
My preferred scenario looks at zig-zag pattern
I'm waiting for a pullback (b minor wave) and then another bearish wave.
Have a great weekend!
ElwaveSurfer
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