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Friday, November 13, 2015

Elliott Wave Update ~ 13 November 2015

Daily count shows proposed waves 1 and 2.
Proposed wave 2 in more detail.
Gold count. Elliott Wave International (click on my links left hand side of blog) suggested that a wave (5) ending diagonal triangle is likely the case and yes it does make sense as that count. Look for "overthrow" of the lower wedge line and then a sharp rebound higher. Gold sentiment is very low so it makes sense that this is a final wave down.
A favorite chart is the GDOW. Less than 38% retrace from peak at the close.

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