Keynes vs Hayek Hip-hop

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Fractal correction patterns playing out of Dow & SPX

Gold inflexion point at 1115

Last stop for impulse count out of triangle is 1115 where wave 3 could become the shortest of the 5 waves. This is a critical spot.

After that we would have to consider the move off $680 to be an impulse with a series of very bullish 1-2-1-2s and see then we should see much higher highs.

Although gold is looking extremely bullish right now, the divergence created by no new highs in gold miners (GDX) and silver (SLV) makes me worry that this is a blowoff top.

Case for top already in

A dollar count to go with the market top in case the market turns down here. Its still 50:50 but there is a valid count for a dollar bottom - it could have been made already.

The case for one more high

Complex correction upwards on the SPX



Much simpler wedge pattern on the DOW. When it breaks the lower trendline, look for a kissback and down she goes!

SPX decline not impulsive - needs another high

Dollar needs another low so its likely that SPX & EUR need another high

SPX:



DX:


DX short term:


EUR Long Term:



EUR short term:

SPX top is in (Alt count: wave 2)

Top seems to be in: Either a Leading diagonal or a (i)-(ii)-i-ii unfolding