"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 2 hours Gold: The Religion Of Currency
  • 1 day Economists Polarized On Trump’s Tariff Plan
  • 2 days Why Are Investors Overlooking Gold Stocks?
  • 2 days The App That Democratized Trading Is Now Worth $5B
  • 2 days Super-Cycles: Why Gold Is Set For A Breakout
  • 2 days U.S. Sanctions Russia For Election Meddling And Cyberattacks
  • 2 days Snap Shares Tank Over ‘Slap Rihanna’ Campaign
  • 2 days How Low Can Bitcoin Go?
  • 2 days Amazon’s Japan HQ Raided In Anti-Monopoly Push
  • 2 days Is Barrick Gold Close To Finding A Bottom?
  • 3 days Morgan Stanley’s Top 10 Short-Term Stock Picks
  • 3 days China: The Land Of The Ultra-Rich
  • 3 days Alibaba Soars On Reports Of China Listing
  • 3 days What Killed Toys ‘R’ Us?
  • 3 days SEC And IRS Take An Aggressive Stance On Cryptocurrencies
  • 3 days Bears And Bulls Face Off In Gold Markets
  • 3 days Bitcoin Is Winning Over The Housing Market
  • 3 days Markets Slide Sideways As Trade War Fears Linger
  • 4 days Why Aren’t Millennials Investing?
  • 4 days Bitcoin And Banking: The Next Mobile Payment Revolution
Is Barrick Gold Close To Finding A Bottom?

Is Barrick Gold Close To Finding A Bottom?

Barrick gold has been a…

Why Aren’t Millennials Investing?

Why Aren’t Millennials Investing?

After watching previous generations take…

Amazon’s Bid For A Monopoly On Everything

Amazon’s Bid For A Monopoly On Everything

Amazon started in e-commerce, but…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

More Info

Elliott Wave Analysis On SP500 And GOLD


E-mini S&P500 has five waves up from the low after we identified an ending diagonal last week that now obviously appears finished at 2030. As such, we can expect more gains after any three wave retracement that can already be in the cards now back to 2040-2045 area where we will look for a new bounce, above 2060 while market trades above 2030 invalidation point.

S&P500, 30 Min

S&P500 30-Minute Chart


Gold is bearish the last seven days, but for now still only with three waves so decline from 1303 can be temporary. An updated wave count shows that price is now weakening within wave C headed down to around 1263 where we see 100% Fibonacci level that can react as a support. Only bounce from there with five waves back to 1290 would be bullish evidence for a new turn back to the highs.


Gold 1-Hour Chart


Are you also wondering where is the S&P500 headed long-term, or GOLD or Forex pairs? We have special updates for active traders. For more details, visit our page at www.ew-forecast.com


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter