Elliott Wave Update ~ 8 July 2015

The big picture shows that the Wilshire could have ended in an ending diagonal triangle. That implies a swift retrace back to its origin price starting point in swift fashion. That is the guideline of the way prices collapse after an ED pattern. That starting price is RED Intermediate (4) of 19160.

Short term squiggles are certainly muddled. The market is short term oversold and a possible "resolution" to the Greece crisis could spark a short-covering rally. Who knows? In either case, even if there is a rally to cover a couple of large gap downs, prices should resume falling in wave three quickly after.

Gold may or may not hit a new price low as part of a flat count for wave (A).

And the overall count for Gold.  Multi-decade outlook: Bullish. The next few years as our fiat systems come unglued:  Perhaps some pain according to the EW counts. After all, the Gold market is a leveraged (100-1?) fraud also. So that has to eventually unwind also.  But wave [B] is a rally within that time frame.

Global Dow: Solid Break under the multi-year trendline.