Thursday, August 29, 2013

Gold ~ 29 August 2013

Gold's advance continues:

(link to previous post)
As long as gold is above 1350ish, the medium-term trend is up.

S&P 500 ~ Intraday ~ 29 August 2013

We're at the resistance now. Let's see what happens.

ES ~ Globex ~ 29 August 2013

The ES was up 7 handles at one point during globex but sold off in the last hour and is now down about 3 points.

As long as 1640ish holds, I still think that we'll see 1620 or possibly even 1595ish:

Wednesday, August 28, 2013

ES ~ Globex ~ 28 August 2013

We might decline to the support at 1620ish today. Days following a big sell off are usually quiet though so I don't expect big movements today.

Tuesday, August 27, 2013

Silver ~ 27 August 2013

Silver hit my first target:

(link to previous post)
I think that either at 25 or 26 we'll get a small correction followed by the next wave higher toward 30 $ (similar to October 2010).

S&P 500 ~ Intraday 2 ~ 27 August 2013

1640ish seems to be breached:

As long as we stay below today's high, the next objective should be 1624ish.

S&P 500 ~ Intraday ~ 27 August 2013

The SPX hit last week's low this morning:

We're rallying right now but I don't think that we can get all the way up to 1657 and close the gap. Big gaps (like today) are usually not filled on the same day.

If 1640 gives way, we should decline to 1624ish.

ES ~ Globex ~ 27 August 2013

We got a big sell off overnight!

1655ish broke shortly after yesterday's close which lead to a decline of more than 1 %:

It looks like last week's low at 1631 will soon be tested. If this level is broken, we should see more selling down to the next support level at 1620ish.

Monday, August 26, 2013

Friday, August 23, 2013

ES ~ 23 August 2013

The ES is back at the resistance around 1657ish. A break of this level should lead to a rally to 1680ish:

Thursday, August 22, 2013

Gold ~ 22 August 2013

Gold has been consolidating around 1370  over the last week:

If 1340-50 holds, the rally should continue.

GDX ~ 22 August 2013

The GDX is now near the resistance at 30/31ish:

(link to previous post)
If we get above it, we should see a rally to 40ish.

S&P 500 ~ Elliott Wave Count ~ 22 August 2013

The SPX didn't rally above 1660 and thus wave A is still not over:

(link to previous count)

Tuesday, August 20, 2013

S&P 500 ~ Elliott Wave Count ~ 20 August 2013

The decline to 1646 either completed blue wave A or only green wave [iii] of A. If 1660ish is convincingly breached, 1646 should be the low of A and wave B would be underway to 1680ish.

(link to previous count)

Friday, August 16, 2013

S&P 500 ~ Intraday ~ 16 August 2013

We're now near the support at 1654ish. I don't think that we'll go much lower from here. A short-term rally in the next few days seems likely.

ES ~ Globex ~ 16 August 2013

Not much happened overnight, the futures are still trading just below 1660:

The next support level is at 1648ish. Resistances are at 1668ish and 1678ish.

Thursday, August 15, 2013

Silver ~ 15 August 2013

Silver broke the resistance at 22ish:

25 and 26 should be the next objectives.

Gold ~ 15 August 2013

Gold broke the resistance at 1350:

If we get two consecutive daily closes above this level, I think a rally to 1500ish should follow.

S&P 500 ~ Elliott Wave Count ~ 15 August 2013

It looks like wave (4) is now underway. I think a decline to 1600ish is possible.

(link to previous count)

Wednesday, August 14, 2013

Silver ~ 14 August 2013

Silver is at the resistance at 22ish:

If it breaks, we should see a rally to 25/26.

Gold ~ 14 August 2013

Gold hit the resistance at 1350ish again:

If it breaks, we should see a rally to 1480/1550.

Tuesday, August 13, 2013

GDX ~ 13 August 2013

Miners have performed even worse than gold during the last few months. Between September 2012 and June 2013 the GDX lost 60 % of its value:

A few days ago the GDX made a higher low indicating that the sell-off might be over.

The next important resistance is at 30-31. A break of this level should lead to a rally to 40.

S&P 500 ~ Intraday ~ 13 August 2013

If the SPX breaks 1684/5, a decline to 1674 is likely.