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USD, Stk Mkt, & Gold: Key Wave Countscaptainewave June 23, 2023 All of wave ^c^ is complete at the 114.75 high and we are now falling in wave ^d^. The wave ^d^ drop must consist of at least one 3 wave pattern, so for the moment we will assume that we are falling in wave a of ^d^. On our Daily USDX Chart we have shown our count for wave a, and we are now working on the assumption that it is complete at the 100.42 low. We should now be rallying in wave b, which has the following retracement levels: After wave b ends, we expect another big drop in wave c. Stk Mkt (S&P500):
Within wave A, we completed wave (a) at 4222.62 and we are now working on an expanding and extending wave (b) bearish triangle. Within that triangle, wave -c- looks to still be underway as it has become more complex, and very, very overstretched now. A major reversal is likely very near. Trading Recommendation: Go short, with calls as stops. But for the moment will assume that is it is a simple 3 wave pattern. It now looks like wave ^a^ is still underway. After wave ^a^ ends we expect another rally in wave ^b^ that will be followed by another drop in wave ^c^ to complete all of wave *e* and all of the very large bullish wave .iv. triangle. Trading Recommendation: Go Long gold. Use puts as stops. Active Positions: Long gold, with puts as stops!
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