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This appears to be a Zig Zag for wave (iv). w and y would be equal around $52. This is about where wave c_circle would be expected to start, around current levels to about $1 higher. Wave c_c could bring us down to the $38.80 area. Wave (iv) is corrective action to the downward trend. Wave structure will determine where waves (v) and 2 end...this is a long way...

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This is just a general idea where we are headed and in what form. I haven't even calculated the actual levels...just a general eye from experience. At trackthemarkets.com I keep closer tabs on what's going on. This is what I post and trade. Bulls better watch out...the next move down could be around 900 points with a first target of 15370. This is just the...

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Short for the VERY short term....seen by my charts. The real trade is long. This is the possible outcome for gold. Notice the green arrows denoting wave 3? Wave three is typically the strongest and the Awesome oscillator indicates this with the peak of the lower green arrow. Notice the negative divergence with the red arrows...indicating weakness. But the...

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Short-term short, Long-Term VERY bullish. It appears we have just completed the c wave in a triangle, expecting a trust up to around $63-65 and then plummet to a first target of $42 (new low) within 30-60 days. Much lower could be expected...depending on wave structure. The reason is deflation. Sorry about not having the correct degree of labeling. I can't...

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Analysis of the Hang Seng to get an idea of global markets. The green arrow shows the top...the same date that the US markets started the crash....Oct 2007. The only difference between this market and the US is, the US market is forming a Expanded Flat (huge) where the b wave rises above the top...wave 5. The most important part to this entire chart is the red...

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Aussie market is leading the global crash along with some Asian markets (see my Hang Seng chart). Long term, waves A and C should be about equal. This is a typical relationship. My red trend lines are the same length, indicating a possible bottom. Wave A took about 32 months...wave C may take around the same. Wave C should be a 5-wave event.

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Sideways in a 4th wave triangle prior to a sharp thrust down.

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You can see the negative divergence on the Awesome oscillator shown below. This indicates weakness....which is typical with tops and Ending Diagonals....if that's what's happening. My only issue, so far, is how to label this ED. The gray labeling shows another possibility where we will go down to 17350 for wave 4. With other global markets in bearish mode, it is...

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Bulls be careful. We are beginning/in a deflationary (credit) crash that will last for 3 years or more. We have been in a bear-market rally since the bottom in 2009. Lower low expected than that in 2009. I still believe we may have more upside...maybe to 19600. What for an Ending Diagonal to complete this move up.

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The Ending Diagonal at the top is a little too soon to chart or call, but is a possibility. You can see the RSI starting to diverge (red arrows at bottom), just like in 2007...this is showing weakness. This chart fits in with other global charts and patterns. Getting to the bottom could be a multi-year event. Nothing goes straight up or down....although it may...