At the Crest Of Primary Wave 2?

Posted: under Commodities, Predictions, Stocks.

The persistent rally in stocks together with sentiment extremes and declining technicals seems to be shifting the Elliott Wave consensus away from a minor 4 subwave to minor 5 itself, implying that primary wave 2 could be topping now. Gold appears to be poised to take off again to another new high.

I recommend clicking on each chart to see the enlarged version as browsers tend to do awful things to shrunken images, such as remove price bars entirely.

Gold – GLD

Spiral Calendar Turn Dates Chart For Gold (GLD) for December 10th, 2010

Spiral Calendar Turn Dates Chart For Gold (GLD) for December 10th, 2010 – click to enlarge

S&P 500

Spiral Calendar Turn Dates Chart For S&P 500 for December 10th, 2010

Spiral Calendar Turn Dates Chart For S&P 500 for December 10th, 2010 – click to enlarge

Nasdaq-100

The Nasdaq 100 chart this week is a long term chart showing price is nearing the 2007 high

Spiral Calendar Turn Dates Chart For Nasdaq-100 for December 10th, 2010

Spiral Calendar Turn Dates Chart For Nasdaq-100 for December 10th, 2010 – click to enlarge

New visitors: please see this post for a brief explanation of the spiral calendar.

Comments (0) Dec 12 2010